Those looking for banking and financial service jobs may need to cast their net wider than the UK, as a growing number of businesses consider relocating abroad to avoid Britain's complex tax system.
That is according to research commissioned by HM Revenue and Customs, which indicated that two-thirds of businesses feel there is more red-tap now than a year ago and one in five are considering moving their operations overseas.
The report, conducted by TNS, the report was commissioned under the former government, with new chancellor George Osborne having since demanded that Britain be "open for business", the Daily Telegraph reports.
A spokesperson for the Treasury told the newspaper expressed the chancellor's wishes for the private sector to drive economic recovery.
"That is why the June Budget announced a cut in corporation tax for a million businesses, a national insurance holiday for start-ups and a new office of tax simplification to make the UK a more attractive and simpler place to do business," he added.
Meanwhile, a report by the Chartered Institute of Personnel and Development published earlier this month indicated that a growing number of employees are calling for performance-related pay.
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