Insurer claims staff could leave the UK
Robert Hiscox has said the Government had "lowered the barrier to exit" by raising the top rate income tax to 50% from next April, provoking his staff to ask for transfers out of the UK, the Telegraph reports.
"People are becoming downbeat as the Government makes the UK less competitive, which is scandalous in a country where footballers can earn £9m a year and nobody even flinches," said Mr Hiscox.
"What's most alarming is that many of the people looking to leave Britain are not our highest earners, most of them hold middle-ranking jobs and are willing to uproot their families to leave the country."
Bloomberg reported Hiscox CEO Bronek Masojada telling the ABI conference: “I’m staggered by the number of people within our own organisation who have come to see me not to ask to go to Bermuda, because we have very little opportunities there, but to go and work in America, mainland Europe, even France.”
