The Financial Times says:
Some of Britain’s biggest hedge funds have warned the UK Treasury they will be forced to leave the country unless a draft European directive is radically changed.
Some have already begun back-up preparations to move to Switzerland in case the rules — described by one manager as a “French plot against London” — are not rewritten. New York is also a possible destination, according to another.
Remember domicile, corporate tax reform, 50% tax and more? It’s always been the same message: we’re going to leave, blah, blah, blah.
And a few do, and none of us notice the loss.
Same with hedge funds: let’s face it they already claim to be in Cayman anyway.
So please go: you’re just not that important.
But I bet that at most three will actually do it. After all, would you want to live in Geneva?