Britain on Brink of Chasing City Firms Away

Britain gains immensely from hosting many of the world’s largest businesses. So it is a sad day when one of the UK’s top employers and taxpayers announces that it is considering relocating abroad – and the move is immediately rewarded by grateful shareholders, pushing up the share price by 3pc. I’m talking about HSBC, of course, a bank which despite its recent woes remains a major contributor to the UK.