London

You are currently browsing articles tagged London.

The Perfect Country?

February 9, 2011 in Expat Locations by Paul Allen | No comments

Zürich has long-featured at the top of the list of cities offering the best quality of life in the world. Having finally visited for the first time last week, I can now see why.

Mind you, I wasn’t so enthused when I looked out the plane’s window as we came in to land. The pilot informed us (a little too cheerily, I thought) that it was -3°C, and the sky was an ominous grey.

Still, the city soon made up for it.

I had a few hours to kill before a business meeting, so I took the opportunity to amble around the Old Town, before finding my way through the winding streets to the Kunsthaus art museum.

The museum lacks the grandeur and wealth of treasures that the Louvre, National Gallery or the Prado can boast. But with a collection of works spanning six centuries – including some beautiful pieces by Canaletto, Monet and Van Gogh – it is well worth a trip.

And Zürich has a lot more to offer. The cafes, restaurants, shops, and its beautiful lake make Zürich an enviable place to live. Easy access to Switzerland’s world class ski resorts has a certain attraction too!

The Swiss advantage

And Switzerland’s appeal is not limited to its culture or sporting activities.

In its most recent annual survey, the World Economic Forum crowned Switzerland as the most competitive nation in the world for the second year running.

Switzerland was followed by Sweden, with Singapore third in the rankings. The United States slipped to fourth. The United Kingdom was 12th.

Running like clockwork

Such rankings were underscored on my way home.

The Swiss, of course, are famed for their timekeeping and efficiency. When the trains say they will arrive at a certain time they do, and to the second. They are smooth, clean and comfortable. Getting around Zürich is a cinch.

By contrast, getting back to my home in the UK was anything but smooth and comfortable. London’s Underground system was ground-breaking (literally) when it opened 150 years ago. Now though it is showing its age. There are constant repairs, and too many people jostling to get on.

The subsequent overland leg of my train journey was even worse. Broken signals, delays, overcrowded carriages. Suffice to say, it eventually took me twice as long to get from London’s City airport to home as it had taken me to fly from Switzerland to the UK.

Having lived abroad for many years, I know that nowhere is perfect.

Britain has its faults, for sure – the climate, the overstretched transport infrastructure, the lack of space, its cost of living. Yet coming back to live in the UK has helped me see it with new, more sympathetic eyes, better able to appreciate the wonderful things it does have to offer, and not just the bad bits.

Still, I can see why there is so much interest – especially among those well-paid financial types – in relocating to Switzerland.

Much of the reason may be to do with the favourable tax regimes they can expect to find in the country’s various cantons.

But I’m sure Switzerland’s long-trumpeted quality of life advantages must be as much of a draw.

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Repatriation Advantages

November 8, 2010 in Expat Advantages, Living Abroad Pros and Cons, Repatriating to Britain by Paul Allen | No comments

A recent holiday in Spain – the first trip back to our house on the northern Costa Brava since repatriating to the UK last Christmas – reminded me of all the good things about our former life in the sun.

And the drive home from the airport after we landed back in the UK, with the rain greasing the congested motorway, showed the stark contrast with the world we had left behind.

Since our return friends and work colleagues have been asking the same question: do we regret moving back to England?

Of course, we miss some of the lifestyle benefits Spain offers. After all, the UK is by no means perfect. Nevertheless, on balance we are happy we repatriated.

So what are the good things about living back in the UK? For me, the key ones are:

  • Social Network

The number one advantage is being back among family and old friends, renewing those old, precious relationships.

  • Familiar Culture

There is an ease to living in a place where you understand the societal attitudes, the sense of humour, and how the systems involved in day-to-day life work. Being able to think and speak in your native tongue once again is nice too.

  • Britain’s Beauty

We have now been through all the seasons, and while the UK’s weather may not be wonderful (I’m writing this with the rain lashing outside), each reveals some special aspect of the country’s beauty.

In the months since our return we have also taken the chance to explore more of the country, and see the charm that attracts so many foreign visitors: the wonders of London, the nation’s majestic stately homes, its quaint villages and verdant countryside.

It is not always easy to see how great Great Britain is when you are brought up with it and long to escape. Instead, sometimes you have to leave to come back again.

As Irish novelist George Moore said: “A man travels the world over in search of what he needs and returns home to find it.”

That is just how I am feeling … at least for the moment!

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Tax Threat to UK’s Global Competitiveness

October 15, 2010 in International Cost of Living, Living in Britain, Working Abroad by Paul Allen | No comments

A new report published by the City of London Corporation[1] suggests the lack of tax predictability in the UK is now “out of control,” and is threatening the country’s position as a leading global financial centre.

The report polled members of the banking, insurance, asset management, hedge fund and private equity communities on six factors: predictability, overall tax burden, attitude of tax authorities, network of tax treaties, complexity and cost of compliance.

Every respondent gave the UK a poor rating on predictability. It is the area where the UK fared worst compared to other countries, but which the report says is the most important factor in judging competitiveness.

The authors said surprise changes such as the introduction of the bank payroll tax and bank levy, and the increase to 50% in the top rate of income tax were creating uncertainty and changing the financial services industry’s perception of the UK. In addition, the new rates and measures meant “the UK is now seen as a high tax jurisdiction not dissimilar to continental countries.”

However, despite fears that changes to the UK’s regime would lead to an exodus of financial institutions and people to more favourable tax jurisdictions, such as Switzerland, Singapore and Hong Kong, that has not materialised in practice, at least thus far. Instead, for the time being London remains a key financial hub, attracting international investment, as well as expatriate and domestic workers.

Holding on to its position in the world as an attractive place to live and do business is the UK’s challenge going forwards. Relying on its weather as a source of appeal certainly won’t do the job!

[1] Taxation of the Financial Services Sector in the UK: Predictability and Competitiveness, prepared by Charles River Associates for the City of London Corporation, October 2010, http://217.154.230.218/NR/rdonlyres/E3CEF4F7-479B-46B4-AB93-29DF5F673B53/0/TaxationofFinancialServices.pdf

Tags: , , , , , , , , , , , , , , , , , , , , , , ,

Swiss Watch

July 9, 2010 in Expat Locations by Paul Allen | No comments

Alan Howard, founder of leading hedge fund Brevan Howard Asset Management, has joined the expat ranks.

Recent reports say Howard, who is swapping London for Geneva, is among a number of financial luminaries to have left the UK. And there are fears many more will follow, driven by concerns about rising tax rates, a less attractive business environment, and quality of life issues.

Certainly Geneva has its attractions. Low tax is an obvious one, especially for those wealthy City types. For example, alternative investment managers (i.e. those at hedge and private equity funds) can obtain a special tax status that enables them to discount chunks of their taxable income. Indeed, Switzerland as a whole offers many tax advantages.

Then there are the lifestyle benefits – the proximity of world-class ski resorts, sailing on the country’s many lakes, the beautiful scenery, its excellent environmental record, high quality health and education systems, etc, etc.

And that is backed up by Mercer’s 2010 Quality of Living survey, which put Geneva third in its global rankings, one place behind Zurich[1].

The flipside is that Geneva also ranks as one of the most expensive cities in the world, coming in fifth in Mercer’s recently released Cost of Living survey[2].

With a reported fortune of £875 million that won’t faze Alan Howard. Still, it might give the rest of us pause for thought.

[1] Mercer 2010 Quality of Living survey, 26 May 2010 http://www.mercer.com/qualityofliving

[2] Mercer Worldwide Cost of Living survey 2010 – City rankings, 29 June 2010, http://www.mercer.com/costoflivingpr#City_rankings

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Wonders of London

April 23, 2010 in Repatriating to Britain by Paul Allen | No comments

Having been brought up close to London, and commuted there every day for a time, it’s easy to take the UK’s capital for granted. But having lived abroad for many years I’ve come to re-appreciate what a fantastic city it is.

As a kid, my family and I used to make regular day trips to London to take in the sights (my father worked there for British Rail, which meant we could take advantage of both free train travel and his almost encyclopaedic knowledge of the city).

We went everywhere, visiting many of its most famous sights: we had trips to the Natural History and Imperial War Museums, to Hampton Court Palace, Kew Gardens and the Greenwich Observatory, saw Buckingham Palace and the Crown Jewels in the Tower of London, had tours of Tower Bridge and HMS Belfast, Madame Tussauds and the London Planetarium. They were great days, and have left me with wonderful memories.

So it was exciting to take my daughters to London last week for their first visit.

With youngsters it’s easy to attempt to do too much – London is such a big city, and has such a wealth of things to see, that you can get carried away. So we tried to keep it simple.

First stop, Buckingham Palace. Brought up on a diet of Disney princesses, it seemed appropriate we should show them a bit of real-life royalty. So we duly joined the hordes of tourists by the gates and admired the palace frontage and watchful guards. No sign of a tiara-ed monarch though.

We then caught one of London’s famous red buses up to Regent’s Park to reach London Zoo. It’s been decades since I was last there, and I only had a vague memory of the place. It’s hard not to wonder if you’re doing the right thing when you see some of the animals in such confined spaces, especially the lions and tigers. But there is the valuable conservation work the Zoo undertakes. And you have to hope such visits are fostering an interest in, and appreciation for, the natural world among all those delighted children. 

And the best bit of the day for our kids? Well, there was seeing the gorillas. But I sense the £2 bus ride just edges it!

Tags: , , , , , , , , , , , , , ,

Van Gogh: The Expat Extraordinaire

April 19, 2010 in Expat Advantages by Paul Allen | No comments

There may not be many, but being a journalist does have its occasional advantages … as I found last week when I was invited to a private viewing of the Van Gogh exhibition at the Royal Academy of Arts in London.

The exhibition, The Real Van Gogh: The Artist and His Letters, which finished yesterday, has been hugely popular. Unfortunately, it meant the queues to get in during normal opening hours were over three hours long at times. And the crowds inside made it difficult to view the paintings, drawings and letters that were on display, according to a friend who went last month.

So the invitation to a press party and private viewing – organised by the exhibition’s sponsor The Bank of New York Mellon – was too good an opportunity to miss. Having the space and time to amble around uninterrupted, reading the inscriptions and admiring the paintings in close detail, was a real delight (not to mention the free cava and canapés).

Of particular interest was the insight the exhibition gave into Van Gogh the expatriate. His formative years as an artist in the Netherlands produced a series of dark and dour paintings drawn from the people and landscapes around him. However, once Van Gogh moved to Paris colour began to infuse his palette. At last he was at the centre of the artistic world, and the influence of the Impressionists, and pointillists such as Georges Seurat, is visibly evident in his development as a painter.

But it was Van Gogh’s relocation south, and the inspiration he found in sun-blessed Provence, that marks the real turning point in his career. It is from this period that his most famous paintings date: Bedroom in Arles, Irises, Cypresses, The Starry Night, Cafe Terrace and the Sunflowers series.

Unfortunately, this time in Provence also saw a pronounced deterioration in Van Gogh’s mental health, an illness that led to his eventual suicide.

On second thoughts, perhaps a life in the sun isn’t such a great idea after all!

Tags: , , , , , , , , , , , , , , ,

Taste of America

April 13, 2010 in Food Abroad by Paul Allen | 2 comments

A friend has just returned from her first trip to the States – a visit to my one-time home of New York City. Inevitably, she was bowled over by the place. And equally inevitably, one of the big attractions was the food.

Working for a US-based publisher, first in London and then in New York, I always used to get teased by my American colleagues about the quality of British cuisine.

Now, to an extent I concede they had a point. There are some wonderful eating establishments around Britain, and in particular in London. But there are some shocking places as well. And a country that boasts fish and chips as its national dish has to be on dodgy territory.

By contrast, the year I lived in the States – and I did a fair amount of travelling around during that stint – I never had one bad meal. So, grudgingly, I had to admit my colleagues had a point. Indeed, the only complaint I ever had was that the portions were too big.

Where I did have a gripe though was with American chocolate. Hershey’s! Urgh.

According to Wikipedia, Hershey’s uses a secret, more economic process in its milk chocolate that, it is speculated, produces a compound that helps stabilize the milk, but also produces a sour, “tangy” taste. Definitely not one that works for me.

America also sets lower cocoa limits: US government rules specify milk chocolate must have a minimum 10% concentration of chocolate liquor (which, says Wikipedia, is pure chocolate in its liquid form, containing approximately equal amounts of cocoa solids and cocoa butter). By contrast, European Union regulations stipulate a minimum of 25% cocoa solids.

Even the chocolate bars we were used to finding in Britain had been adulterated beyond recognition. And I won’t even get into the comparative merits of Swiss and Belgian chocolate.

In short, this is one area where America can learn a thing or two from its friends in Europe. So I only hope Kraft doesn’t ruin Cadbury’s now it has taken charge.

Tags: , , , , , , , , , , , ,