Goldman Sachs Vice Chairman Quits UK in Non-Dom Exodus Wave – Guido Fawkes

Goldman Sachs Vice Chairman Quits UK in Non-Dom Exodus Wave

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Richard Gnodde – Goldman Sachs’ international vice chairman – is upping sticks from the UK to Milan. Italy offers a ‘golden visa’ for moneyed non-doms which charges a flat tax rate…

Gnodde is the bank’s most senior member outside of the US and the first senior banker to move since the changes. He joins other high profile figures in the exodus: Brewing tycoon Frederic de Mevius, steel magnate Lakshmi Mittal, and Aston Villa co-owner Nassef Sawiris to name three. Remaining taxpayers will have to fill the gap…

The Treasury has not fully modelled the revenue effects of an exodus. It’s not hard to guess…