US EditionGoldman Sachs boss sounds warning to Reeves on tax and regulation
UNITED KINGDOM, JUL 23 – David Solomon warned that reversing the Non-Dom tax policy risks harming the UK economy and has led some Goldman Sachs senior partners to relocate, impacting London’s financial sector.
- Recently, David Solomon told Wilfred Frost's The Master Investor Podcast of concerns over tax and regulation, voicing warnings ahead of his meeting with the prime minister.
- Reversing the 'Non Dom' tax policy by successive governments has driven some Goldman Sachs senior partners to relocate from London.
- Staff relocations underscore how Mr Solomon highlighted staff shifts, with Paris staff increasing from 80 to 400, highlighting London's declining financial status.
- He warned that poor policy could impact growth, as Solomon urged Goldman Sachs not to push talent away, warning that London's status as a financial hub is fragile.
- In response to the chancellor's Mansion House address, Mr Solomon pressed for actionable steps to support growth and retention of financial talent.
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Western Morning News
Western Morning NewsBrexit has left City of London’s reputation at risk, Goldman Sachs chief warns
David Solomon warned Goldman Sachs is turning its attention towards the continent
·London, United Kingdom
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Goldman Sachs boss: London finance lead 'fragile'
London’s position as a global financial centre is at risk from years of anti-business policies that are pushing talent and capital abroad, the boss of Goldman Sachs has warned. David Solomon highlighted a damaging combination of Brexit, the UK’s tax burden, constrictive regulation, and the recent decision to abolish the non-dom regime have all harmed Britain’s appeal to international investors, leaving its ascendancy “fragile”. “Policy matters, …
·London, United Kingdom
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Total News Sources8
Leaning Left1Leaning Right2Center1Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 25%
C 25%
R 50%
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