HSBC chairman Douglas Flint has warned major UK banks are bringing forward potential plans to relocate overseas due to uncertainty over the future regulatory structure of the financial sector.
Two weeks before the Independent Commission on Banking delivers its preliminary report, Flint (pictured) said banks' customers are unable to carry out long term transactions when they are not sure of the future banking framework. He said customers are threatening to bank elsewhere, forcing UK banks to relocate in order to retain business, according to the Telegraph. Read more here Pensioners hit by new HMRC demands Around 150,000 pensioners have received demands for £800 in unpaid tax after another HMRC bungle. The Revenue said yesterday it had put thousands of pensioners on ...
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