Leading figures from across London's financial services industry have warned that the government's tax regime is making the country a "pretty uncompetitive" place to do business, fuelling concerns that some of the City's top talent could leave the UK capital.

In a report put together by PwC and the Confederation of British Industry published today, industry figures said that the decision to push the highest rate of income tax to 50% and implement a one-off bonus tax had damaged London as a financial centre.