UK PRESS: ears that London faces an exodus of bankers increased
yesterday as it emerged that many will have to pay more income tax from
next month than in any of the capital’s rival financial centres around
the world, the Independent reports. The new 50 per cent rate of tax for
income over stg 150,000 comes into force on 6 April, and the hike will
see the City become the most expensive of eight financial centres for
high earners, according to Financial News, the paper says. This has
increased concerns that London’s status as one of the world’s
pre-eminent financial markets could suffer.