Guardian – GlaxoSmithKline boss Andrew Witty should be warmly commended for his engagingly old-fashioned view that a corporation is not a shiftless, stateless legal fiction that can be whisked off to the Cayman Islands at the wave of an accountant’s pen.
His sentiments might well be shared by the staff of the London-based hedge funds who have recently relocated to Zurich to escape the 50p top tax rate, and found life there isn’t quite as easy-going as in Knightsbridge or Notting Hill. Apart from the ski-freaks, many have found Switzerland’s less than thrilling nightlife, the absence of 24-hour corner shops and the minefield of social and legal norms too much to take after the allure of London.
