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Monday, September 27, 2010

Wolseley To Leave The UK

Wolseley the world's largest plumbing, heating and building materials supplier, will leave the UK and relocate to Switzerland, where it regards the tax regime to be less "uncertain".

Corporate tax rates in Switzerland are regarded as being more "competitive" than the UK.

Wolseley expects its underlying tax rate to come down from 34% to 28%.

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