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Hot news from Accountancy Age:

UK has lost its ranking in the top three of Europe's most favourable tax and legal environments, according to the fourth benchmarking study carried out by the European Private Equity & Venture Capital Association (EVCA) in collaboration with KPMG's M&A Tax Services.

Thank God for that!

It's really very clear that KPMG don't realise that the world has changed. But I've news for them: it has, and they'll be part of the history by the time claims on failed banks have been settled.