Hugh Osmond, the serial entrepreneur, is considering relocating Pearl Assurance, his financial services group, outside the UK for tax purposes, in the latest sign that frustrated businesses have lost faith in the Labour Government, The Times reports.
Mr Osmond, who famously floated the Pizza Express restaurant chain and turned Punch Taverns into one of Britain's biggest pub landlords, told The Times yesterday that Pearl was already likely to list some of its investment funds offshore. He said that it would be relatively simple to transfer other functions, including the head office, outside the UK to lower-tax locations, such as Dublin or Geneva. Mr Osmond also said that he was considering leaving Britain himself, in frustration over an administration that he sees as no longer friendly towards the country's top entrepreneurs. AS INV...
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