Financial services companies consider leaving over tax and regulation

A quarter of financial services firms have considered quitting Britain because of high taxes and heavy regulation, the Telegraph reports.

In a survey of business opinion by YouGov for the Policy Exchange, 43% of professionals working within the industry had thought about relocating.

The top destinations for financial companies were tax havens including Switzerland, Jersey and Guernsey.

Zurich Financial Services, WPP and Yahoo are among the firms that have recently moved some or all of their business out of Britain.

The survey also found that 21% of managers said the attractiveness of Britain for new business had deteriorated over the past 10 years. Only 7% thought it had improved.

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