US Edition
Goldman Sachs boss sounds warning to Reeves on tax and regulation
GREATER LONDON, ENGLAND, JUL 23 – Goldman Sachs CEO warns that tax hikes on high earners and Brexit risks are causing staff relocations to European cities, threatening London's financial sector stability.
- David Solomon, Goldman Sachs CEO, warned Chancellor Rachel Reeves last week against raising taxes on banks, citing risks to London and the UK financial sector.
- His warning followed Brexit and global changes that have made talent more mobile, causing Goldman Sachs to expand operations across Europe at London's expense.
- Solomon highlighted the firm's growth from 80 employees in Paris a decade ago to 400 now, while praising Reeves's focus on economic growth and regulation plans.
- He cautioned that implementing tax policies which drive talent away can negatively impact the economy and showed understanding for Reeves’s difficulties amid a delicate economic environment.
- The warnings imply that without supportive tax and regulatory policies, London risks losing talent and capital formation, threatening its status as a global financial centre.
Insights by Ground AI
Does this summary seem wrong?
10 Articles
10 Articles
Goldman Sachs chief says Brexit has left London’s financial status “fragile” as banks move to EU cities
London’s standing as a global financial hub has become “fragile” in the wake of Brexit, according to David Solomon, chairman and CEO of Goldman Sachs, who revealed that the banking giant is expanding operations across the European Union at the expense of the UK capital. Speaking on Sky’s The Master Investor Podcast with Wilfred Frost, Solomon said the bank has been redistributing talent across Europe as the effects of Brexit and shifting global …
·London, United Kingdom
Read Full Article
The IndependentReposted by 
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
Read Full Article
Coverage Details
Total News Sources10
Leaning Left2Leaning Right2Center2Last UpdatedBias Distribution33% Left, 33% Center, 33% Right
Bias Distribution
- 33% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
33% Right
L 33%
C 33%
R 33%
Factuality
To view factuality data please Upgrade to Premium
