HSBC sabre-rattling empty threat: The Guardian

If a corporation really thinks that paying taxes and following rules are too high a price to pay for staying in the UK, then the UK must not bend the rules or cut its taxes to get them to stay, according to a strong editorial by The Guardian . This was prompted by HSBC’s Chairman Douglas Flint’s statement that he was annoyed with financial regulation, which, he claimed, was making financiers more “risk-averse”. Last month, he warned that all this state-led ‘beastliness’ could force Britain’s biggest bank to shift its headquarters overseas.

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