13-04-2025
‘The rich are wrong to flee Britain. They should stay to fix it'
Wealthy individuals should stop fleeing Britain because of high taxes and stay here to help fix the economy, the boss of Fitness First has said.
Justin Musgrove, the gym chain's chief executive, said it was a 'shame' to see rich Britons and entrepreneurs leaving the country for places such as Dubai, as he vowed to invest more heavily in the British high street.
'Leaving and taking our tax revenues away from this country won't help,' he said. 'Putting more inexperienced people in charge of big business won't help. Stay at home and help fix the problem.
'We do have a nation of great entrepreneurs. We're a very inventive country and we're known for it around the world, so let's keep our expertise local, if we can, and succeed together.'
His comments come amid a growing exodus of wealthy individuals to lower-tax countries such as the United Arab Emirates (UAE). According to a recent report, more than 11,000 millionaires have left London alone in the last year, including 18 with wealth over £100m, and two billionaires.
