World Bank, IMF Push to Consolidate Patchwork Approach to Coronavirus Crisis Barclays ' analysts and others report that HSBC will look to move its operations out of the UK despite the concessions announced in George Osborne 's budget . They estimate that the changes announced will allow HSBC to record a 6 % increase on assets in a year against the bank 's projected performance in the previous regulatory framework ; however , they argue that this will not be enough to convince the bank to remain domiciled in the UK . The capital levy will be gradually reduced over the next six years , and will apply only to domestic balance sheets from 2021 , instead of on worldwide assets .
Barclays ' analysts and others report that HSBC will look to move its operations out of the UK despite the concessions announced in George Osborne 's budget . They estimate that the changes announced will allow HSBC to record a 6 % increase on assets in a year against the bank 's projected performance in the previous regulatory framework ; however , they argue that this will not be enough to convince the bank to remain domiciled in the UK . The capital levy will be gradually reduced over the next six years , and will apply only to domestic balance sheets from 2021 , instead of on worldwide assets .