Hedge Fund News From HedgeCo.Net


UK’s biz tycoons to flee high-taxed Britain

Indopia – Britain’s leading entrepreneurs are considering to leave the country as a mark of protest against UK Chancellor Alistair Darling’s new 50 per cent tax rate, a media report says.

" Hugh Osmond, the pubs to insurance entrepreneur, is thinking about a move to Switzerland. Peter Hargreaves, the 10 million-pound-a-year co-founder of Hargreaves Lansdown, the financial adviser, is looking at the Isle of Man or Monaco," the Sunday Times said adding," More are likely to follow."

As per the latest budget, from next year anyone earning more than 150,000 pounds a year will have to pay 50 per cent as income tax. The move replaced the 45 per cent tax bracket threatened in the pre-budget report last November.

Businessmen have warned that raising taxes on the rich would do nothing to boost the exchequer, as the wealthy can always find ways to avoid it.

Read Complete Article

Related Posts Plugin for WordPress, Blogger...

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated and tagged , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Comments are closed.