Emergency Budget causes City jitters
As the Chancellor puts the final touches to his emergency Budget speech, new research from BDO suggests that the City is still feeling nervous about the impact of a coalition government and some international businesses have one eye on the door.
Over half (53%) of the FDs and CFOs of capital markets, investment management and banking organisations questioned in the survey have thought about moving some or all of their business abroad as a result of current and anticipated UK tax levels.
Just under a third (32%) of respondents had gone as far as assessing the viability of moving some of their business abroad. A quarter (25%) of those felt they could move 75% to 100% of their business overseas and a third (33%) felt they could move up to
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