Saturday 2 May 2009

Why Informa's Swiss move should send a shiver down our spines

Telegraph
"After seeing the detail of last month's Budget, Peter Rigby, Informa's chief executive, concluded he had no choice but to put a stop to the Treasury increasing its take of his shareholders' money. By moving to Switzerland he can avoid paying at least £10m in additional tax. ....What Informa and the others have shown is that it's relatively easy for UK companies to sidestep new taxes. It proves that threats by UK companies are not empty. ...But the final feature offered by Switzerland these days that the UK does not is a "highly stable political and economic environment". Given the political meltdown we're witnessing while enduring economic hardship, it's not hard to see why Rigby intends to move from cloud cuckoo land to the land of the cuckoo clock for a bit of stability and certainty."

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