London is losing its status as the world’s leading financial centre and being overtaken by New York, according to a global survey of finance professionals.The collapse of Northern Rock and the proposed tax crackdown on non-domiciled residents are making the UK less attractive to overseas businesses, according to the City of London Corporation, which commissioned the survey.
A separate survey, also commissioned by the City, said the UK tax system had lost its competitive edge over other financial centres. The UK had become increasingly unpredictable and uncertain, complex and unnecessarily aggressive in its approach to taxpayers, it found.
So basically a shot across the bows by kleptocrats unlimited. Also via Mask of Anarchy (and see Exxon using UK courts to attack Venezuela) we see Tesco is weighing up suing the Guardian over blowing its Enron scams-
“Tesco is, apparently, considering suing The Guardian newspaper over a story alleging widespread offshore tax avoidance by the Grocer That Ate Middle England. This could give rise to a little friction between the rest of the Tesco board and one of its non-executives. In her day job, Carolyn McCall is chief executive of Guardian Media Group.”