AN OUTSIDE VIEW

WPP, the British media group, is considering moving its tax domicile to the Republic of Ireland, which has a much friendlier corporate tax regime. Sir Martin Sorrell, WPP’s founder and chief executive, said that the move could cut the group’s £200 million tax bill by tens of millions of pounds a year. In an attempt to prevent more of this kind of thing, the Chancellor, Alistair Darling, has announced the creation of a task force, with executives from the private sector, aimed at keeping the UK’s corporate tax regime competitive. The move comes after the introduction of tax measures that, critics claimed, detracted from London’s place as the pre-eminent location for business. Darling said that the working group would have a remit to ensure that competitiveness remained at the heart of any future reforms to the tax system. “I am determined that we do what is necessary to remain one of the world’s best places to do business, and, critically, to ensure that we maintain our strong and resi...