Posted on 01/18/2025 10:22:13 AM PST by Salman
A record number of millionaires have left Britain since Sir Keir Starmer came to power and there is growing concern that Labour’s tax plans are exiling international investors and damaging the economy.
The Treasury is facing calls to reverse its crackdown on non-domiciled residents as the scale of the exodus becomes clear.
Tax advisers also report that growing numbers of British entrepreneurs are prepared to leave the country after the tax rises announced in the autumn budget.
In total Britain lost a net 10,800 millionaires to migration last year, a 157 per cent increase on 2023, meaning it lost more wealthy residents than any other country except China. The actual number that moved out is even higher because the net figure also takes into account the millionaires who arrived in the UK.
The outflow, mainly to other European countries such as Italy and Switzerland, as well as the United Arab Emirates, was especially large among the UK’s richest residents. Some 78 centi-millionaires and 12 billionaires left the country last year.
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(Excerpt) Read more at thetimes.com ...
As goes California, so goes the UK...apparently. 🤣
In total Britain lost a net 10,800 millionaires
The outflow, mainly to other European countries such as Italy and Switzerland, as well as the United Arab Emirates, was especially large among the UK’s richest residents.
The outflow, mainly to other European countries such as Italy and Switzerland, as well as the United Arab Emirates,
His second thought is, “How do we get the good ones?”
The many-decades long neo-marxist regime and elites running the UK are collapsing. That means the corrupt Lib-Lab-Con uniparty. There is no saving them.
I hope Trump unhitches the USS United States from the sinking Britannia, lest it pull us under as well. They’ve already tried with Ukraine, the Steele Dossier, woks, etc...
let it sink and allow real Britons to take over and reform their culture and country.
Goodbye Britain!
Hello MAGA America!
Any leftist shitholes in the group?
if this economic exodus keeps up [and that’s highly likely], only the elderly, disabled, legal and illegal aliens, and everyone else who are on the dole will remain ...
at that point, few will be paying taxes, few will be growing food, few will be making stuff, few will be working, and the UK will have no way to pay to import the stuff to make up for all of that ...
given that all the takers vote Labor no matter what, and all the millions of recently imported mooselimbs will vote Labor no matter what, it’s probably too late to vote in a new government capable of turning things around ...
thus the UK will be yet another failed socialist country in one or two more generations ...
Hmmm...apparently this was unexpected...
Govt people never learn.
“In total Britain lost a net 10,800 millionaires”
I asked the net how many total there were:
“In 2023, there were estimated to be approximately 3,061 dollar millionaires among the adult population of the United Kingdom (UK), compared to 2,556 in the previous year.”
Either 2024 was one heck of a year or sum ting wong here.
Airstrip One.
That is one way to run out of other peoples’ money.
UAE where pedo’s go to smile
When I was in the UK, I met a man who owned 5 pharmacy stores. He had a chance to buy a 6th one, but decided not to buy it even though it was profitable. I ask why.
He said that would put him into the “Supertax Bracket”. At the time, the British £ was worth about $2.40US. At the time, if you made more than £15,000 you entered the Supertax. That meant that you got to keep $0.10 and the gov’t took $2.30 in taxes. That was the start of the British “Brain Drain” and when popular British people in show business (e.g., Richard Burton) started to leave the UK.
Many went to the Jersey Islands, because they were not subject to the same tax laws. This miffed the Parliament, so they extended control to the Islands. In response, many of those affected left the UK altogether.
Moral: People respond to economic factors, like taxes. That’s one reason CA can’t keep rental trucks in the state because so many people are renting them to move out.
My uk childhood home is listed at >1m, and it’s nice, but nothing special. It would be paid off by now, so 1m equity. And there’s 100s of thousands similar. So there must be a lot of millionaires passively, like that. Not too mention people who actively invested, or just worked hard and lived sensibly
The Treasury is facing calls to reverse its crackdown on non-domiciled residents as the scale of the exodus becomes clear.
Increasing capital controls will be the order of the day for the numb nut Brits further retarding foreign investment.
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