Tuesday 12 December 2017

Analysis: The great Catch 22 on the migration of bank jobs

Central Bank Governor Philip Lane. Photo: Aidan Crawley/Bloomberg
Central Bank Governor Philip Lane. Photo: Aidan Crawley/Bloomberg
John Downing

John Downing

The comparison with turning down up to €20bn in back taxes from Apple comes to mind. In August, the Government had to face accusations of actually spending hefty sums on EU lawyers to effectively turn down a large windfall in back corporate taxes.

At the time, they got much of the immediate handling of the issue wrong.

But they did successfully manage to sell the "long game" argument of standing by a system which had delivered jobs in times of serious scarcity.

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