The Week: City News - Sorrell forecasts exodus

WPP Group's Sir Martin Sorrell has forecast that more companies will move out of the UK to avoid new taxation rules on foreign profits.

Sorrell announced last week that the WPP Group, the world's second-biggest marketing services company, was moving its headquarters to Ireland following the threat of a higher Corporation Tax bill. The London Mayor, Boris Johnson, urged the Government to rethink its strategy to prevent more companies following suit.