Ineos the UK chemicals group confirmed that it will move its HQ to Switzerland in the hope of saving £100m a year in tax The Guardian reported (12 April). 'The company which generates 70% of its revenue outside the UK says many other leading chemical companies have European or global operations resident in Switzerland and that it needs to compete effectively … But unions are angry that Ineos has been handed tens of millions of pounds in tax relief on its debt mountain and is now seeking to cut its tax bill simply by moving a small part of its operations overseas.'
