Diageo may move head office overseas if U.K. government doesn't abolish 50% income tax rate, CEO says

LOS ANGELES , October 24, 2011 () – According to an article in the Mail, Diageo Plc CEO Paul Walsh said his company might move its head office overseas if the U.K. government doesn’t abolish the 50% income tax rate, Bloomberg reported Oct. 23.

Walsh said that having the tax rate for those who earn more than 150,000 pounds (US$237,330) a year will not help the U.K. create jobs. However, he said, scrapping the tax rate would bring more money to the country.

The primary source of this article is Bloomberg, New York, New York, on Oct. 23, 2011.

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