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  The only major banks capable of moving out of the UK are the only ones currently paying corporation tax here, Barclays and HSBC. As global institutions they presently pay UK tax on their global earnings. The UK forms a small part of their total earnings so the UK will lose the tax on their overseas profits. As company taxes are lower in the US (Barclays' likely destination) and HK, the UK will be a net loser and the banks a big net gainer.

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