Hedge fund tycoon plots UK exit after Budget - Sunday round-up

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Hedge fund boss Crispin Odey has threatened to move his firm out of Britain to avoid the 50% income-tax rate on high-earners, reports The Sunday Times .

He joins a growing list of Britain's wealthy businessmen and City financiers, including Hugh Osmond and Peter Hargreaves, who have become disenchanted at the new tax rate and the European Union's proposed changes to regulation of private equity and hedge funds. "We are seriously considering leaving," said Odey, who runs the £3 billion Odey Asset Management. "This government is not interested in keeping London alive as a financial centre. Hedge funds are not yet flying but they are fluttering. Everyone is thinking about leaving." Odey, who made a fortune from short-selling British banks ...

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