While Bermuda rachets up its payroll taxes, there are repeated warnings from the international sector that this will lead to additional jobs being moved to more friendly jurisdictions.
Witness this news from Nova Scotia, where yet another fund company run by ex-Bermuda hands is setting up shop:
Castle Hall Alternatives, which helps investors identify and manage hedge fund operational risk, plans to create up to 50 jobs in Halifax with help from the provincial government. The company, headquartered in Montreal, has signed a $1.42-million, six-year payroll rebate agreement with Nova Scotia Business Inc., the provincial business development agency. The agreement is tied to job creation targets. Castle Hall is also getting up to $150,000 for training from the Economic and Rural Development Department’s Industrial Expansion Fund.
While Bermuda burns bridges through its Government profligacy, other countries are investing in gaining business and jobs.
>>>>> Read this from Politics.bm (and thanks to Stephen Catlin) <<<<<
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