Alistair Darling is admittedly moving closer towards his goal of quelling public outrage in the UK at bank and hedge fund compensation. Part of the solution appears to be threatening enough regulation that the high rollers at hedge funds decide the rewards of staying in London aren’t worth the risk of lawmakers actually passing the proposed stifling legislation and are fleeing to recently tax cooperative Switzerland.
Richard Jordan a partner at law firm Thomas Eggar told Financial News: “Around 40% of my work involves advising people on ways to leave the country. We have reached a tipping point in terms of hostility to the UK tax system.” Financial News estimates that hedge funds managing nearly £10 billion of assets have moved to the tax haven of Switzerland in the past year.
Evidently a Pyrrhic victory is more palatable to some that no victory at all.
switzerland – low taxes but absolutely nothing to fuck..
Can’t wait for the Swiss to realize they’ve let in so many douchebags. Then the pitchforks come out
@2 the swiss are the biggest douchebags on the planet – as long as you have some money you are welcome – unless you are ze germans and want to make sweet wiederanschluss rape to them..
CH is one of the most militaristic countries on earth, outside of IL. The krauts know this too
the swiss army is a joke – have not fought a war in the last century – are ready to attack you with their swiss army knife with extra toothpick – riding a purple milka cow
what you know about epirus
Didn’t I propose the floating city of brokers and traders traveling the world in luxury – creating toxic assets and flash trading markets? I have a better idea, Perhaps we can convince them to load into a spaceship to a tax free (and DNA superior) deregulated market heaven on a planet called….Gattaca.
UBS. Sucks.
@5 I figure the Swiss Army does a pretty good job of protecting the Pope from the heathens and non-believers
@9
they can better spend their time protecting young choir boys from the pope
@10 But you must admit their uniforms are so attractive to the Pope
yes, it makes him reach under his robe and pray for a holy trinity
@9 to @12 FTW!
@1 FTW – I had to go to neighbouring Deutschland to get lucky, although if you want to pay you can’t fault the imported Ukranians
Does anyone know where this picture was taken and what’s going on in it?