The Swiss are luring financiers who no longer feel welcome in the City - Times Online
It will be interesting to see how this pans out. Already, I have heard from several friends of plans to move out of UK in the coming months and years.
House prices are horrendous here in Geneva, but the taxes are much lower than in London so it is attractive to high earners.
The losers in this game are the Swiss low and medium earners as even modest properties are out of their reach. Many have retreated over the border to France where the house prices are markedly lower than in Switzerland. It means that our village which is right on the border is flooded with commuters every morning and evening. One of the local villages is building a tunnel under the village to get the traffic out of town.
The decision of Gordon Brown to raise taxes on bonuses will have far reaching effects, even here in our sleepy village. We are awaiting an influx of UK bankers.
So glad I happened to find your blog.
ReplyDeleteI enjoyed reading through it and will be back to read more when I have more time.
Blessings