London edge over New York eroded

[Flashermac]

London is losing its status as the worldâ??s leading financial centre and being overtaken by New York, according to a global survey of finance professionals.

 

The collapse of Northern Rock and the proposed tax crackdown on non-domiciled residents are making the UK less attractive to overseas businesses, according to the City of London Corporation, which commissioned the survey.

 

A separate survey, also commissioned by the City, said the UK tax system had lost its competitive edge over other financial centres. [color:red]The UK had become increasingly unpredictable and uncertain, complex and unnecessarily aggressive in its approach to taxpayers, it found.[/color]

 

 

FT