Despite fears over the likely impact of the upcoming introduction of a new higher rate of tax for top earners, new research has found that few banking professionals are planning on leaving the UK.
Over recent weeks, the mayor of London, as well as a number of financial analysts, have warned that the introduction of the 50 per cent rate of taxation in April will serve to drive many people in banking jobs abroad.
However, a study carried out by the property consultancy firm Cushman & Wakefield has found that just one in ten British companies feel that taxation is a crucial factor in the choice of location, with those in the financial sector in particular believing that a number of additional factors continue to make London more attractive than lower-tax destinations such as Dublin or Geneva.
Elaine Rossall, an associate in Cushman's European research group, explained: "Taxation is only one part of the location decision, and London is successful as a business location because of it is an attractive place for people to work, it provides easy access to all corners of the globe, its infrastructure is improving and it still an easy place to do business in."
This comes soon after Channel 4 reported that the latest figures from the Swiss Federal Migration Office show that just 1,079 British citizens moved to Switzerland to take up banking jobs there in 2009.
Show me jobs in Europe
