Institute Directors and Simon Walker

minority Labour government: Simon Walker, director general of the Institute of Directors, warned last month that Labour proposed abolition of the non-dom tax loophole would harm finance, according to The Independent. There is a serious risk that large numbers of the international financial community, who have headquartered themselves in London at least in part because of our tax regime, will now exit the country, he said. This is despite the possibility of a minority Labour government which could reimpose a tax on bankers’ bonuses, or a minority Conservative administration that would hold a referendum on membership of the European Union. Meanwhile senior British bank executives, including the UK boss of Goldman Sachs, have warned that a British exit from the EU could force a mass relocation of banks to the Continent. There may be some upheaval to come but, having weathered the worst financial crisis in decades City professionals are largely unworried by the temporary uncertainty created by the election, said Mark Staniland, managing director of Hays London City. Yet today survey suggests that the City, broadly defined, is not hugely perturbed by either prospect. (news.financializer.com). As reported in the news.