The problem being with this being that high tax does not generate economic growth.(Original post by Marinated_in_Joy)
But the bankers basically have to choose the lesser of two evils, and they threaten to leave the country because that's the easier way for them to convince the government that they won't have to pay the price for damage. But if it came down to it, there's little evidence that they would pack up and go, because they'd get the money all back with long term economic growth
Not all the bankers would pack up and leave if there was a tax rise, but it would discourage graduates from coming to work in the UK. In a competitive, globalized environment, the fact is that it pays to compete.
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