Skilled labor continues to emigrate from the UK

The reasons people list as to why they are leaving the United Kingdom are vast.  Some are not happy with the current political environment.  Others are being hit hard by the credit crunch and the rising taxes.  Some of those considering emigration simply are ready to retire and are not prepared to stay in the UK to do it.

The United Kingdom is also seeing an exodus of big businesses, some of whom have made their home in the UK for decades.  For nearly 150 years beauty and health giant Boots has been headquartered in Britain.  It was just announced that they would be packing up shop and moving to Switzerland.

Also heading for Switzerland is Proctor & Gamble, one of the largest producers of consumer goods in the world.  The internet search engine Yahoo! has also announced it will relocate its European headquarters to Lake Geneva over the next year and a half.

 One reason for the exit of businesses from the UK is the recent change to corporate taxation which is now stricter.  Grace Borrelli who is a partner at CTPartners believes that "There is a lure of being part of an emerging market such as the Far East rather than part of a mature market, such as the US or UK.  SO the challenge for businesses in the West is how to revitalize themselves."

 As these companies continue to leave for more attractive grounds they take with them valuable skilled labor which could severely impact the economy.

 bootsus.bri-global.com

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