With the rise in UK taxation, and an ever more onerous regulatory environment, UK bankers are looking for options. The conventional thinking was that other options existed, and that Westminster had better move carefully on suppressing City activity. Whether that warning is heeded or not, the availability of viable options for bankers is not as numerous as some had thought. In fact, Geneva, which has been touted as a leading candidate for those enamored with relocation, seems not to compare well, even if some of the more draconian measures are adopted in the UK.
Bloomberg – London Exodus to Geneva Runs Into Housing, School Shortages