First Switzerland, Now Singapore Looks To Seduce Hedgies
Whilst politicians of both colours try to scare off the UK’s financial community…
Singapore is doing the opposite. And guess what, they have great weather over there too.
Bloomberg: Singapore is seeking to attract firms planning to expand in the region as Asia leads the global economic recovery and the U.S. and Europe increase regulation. The proposed cluster [of ex-British army homes called Nepal Hill] follows tax and regulatory incentives that have made it easier for funds to set up shop on the island than in Asian cities such as Hong Kong and Tokyo, helping the industry grow from near zero in 1997 to almost 140 firms today.
So policitcians can piss and moan all they like about bankers in order to placate angry voters but if they don’t change their tune soon, more and more of our well heeled workers will succumb to the temptation of Alpine freshness in Switzerland or the green surroundings of Nepal Hill, Singapore.
