PPI Claim News - 6/1/2010

PPI Charges: Bankers push up property rates

Commercial property rates in London are soaring because of banks and financial services companies, it has been reported.

Property firm King Sturge has predicted that commercial property rents could rise by as much as 10.5 per cent in the City this year, with many banks deciding against relocating abroad following the government's decision to levy a bonus tax.

Mark Bourne, head of City property at King Sturge, said that despite having threatened to leave the UK, few banks would actually go through with a major move abroad which would boost property prices in the square mile and beyond.

He told the Guardian: "We put it down to sabre rattling by some of the powerful men in banking who have got a voice.

"But London is linked to the global recovery and that's too important for banks to move away from."

International investment bank Goldman Sachs said this week that it is reviewing its UK operations to consider whether to shift staff overseas in response to the government's bonus tax.

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PPI Claim News - 6/1/2010

PPI Charges: Bankers push up property rates

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