Goldman Sachs "Reviewing London Operations"

Dean Nicholas
By Dean Nicholas Last edited 151 months ago
Goldman Sachs "Reviewing London Operations"

Photo / Jamie McK
Atlas might not have shrugged just yet, but he's giving those shoulders a leisurely workout: Goldman Sachs is "considering its options" in the wake of the Government's prole-cheering windfall tax on bank bonuses. The bank may even move whole divisions to countries with regulations more clement to excessive greed. Goldman sees the punitive tax, which will raise a cheer among voters but actually provide a mere ha'penny-drop in our ocean of public debt, as unfair, particularly as it paid the most corporate tax of any financial institution last year — some £1.1 billion. Though no decision has yet been finalised, the move will fuel concern about an exodus of capital and talent from the Square Mile. Don't expect to find many Ayn Rand novels in stock at Waterstones on London Wall.

Last Updated 04 January 2010