‘One of Britain’s biggest companies may be forced to move abroad if the Government does not abandon the new higher rate of income tax ... Paul Walsh, the chief executive of Diageo, said the 50p rate threatened to cause “long term damage” to Britain’s “competitive edge”.
'Diageo is one of the world’s biggest drinks companies, owning some of most famous brands including Guinness and Smirnoff vodka. However, Mr Walsh said the 50p rate of tax means he will struggle to attract “quality people” to Britain which will mean he will have to create jobs abroad. He refuses to rule out moving the company’s British headquarters to a lower tax jurisdiction.’
‘One of Britain’s biggest companies may be forced to move abroad if the Government does not abandon the new higher rate of income tax ... Paul Walsh, the chief executive of Diageo, said the 50p rate threatened to cause “long term damage” to Britain’s “competitive edge”.
'Diageo is one of the world’s biggest drinks companies, owning some of most famous brands including Guinness and Smirnoff vodka. However, Mr Walsh said the 50p rate of tax means he will struggle to attract “quality people” to Britain which will mean he will have to create jobs abroad. He refuses to rule out moving the company’s British headquarters to a lower tax jurisdiction.’
