Latest news with #Rob Carlin
Times
3 days ago
- Business
- Times
Hot tub boss praised by Keir Starmer launches broadside over wealth exodus
The boss of a hot tub company lauded by Sir Keir Starmer for driving economic growth has attacked the government, saying he can understand why 'masses' of wealthy people are leaving the country. Rob Carlin, the managing director of a Derbyshire-based manufacturer of hot tubs and swim spas, criticised the government's tax raid after his son's private school went into administration, and said that he 'cannot blame the masses who are leaving Britain right now'. Downing Street said Carlin's company, Superior Wellness, had been backed by UK Export Finance, the government's export credit agency, to secure a £2.3 million facility 'to accelerate exports in America, Europe and the Middle East'. No 10 said the firm's expansion showed the government was 'empowering British small and medium-sized businesses to access the largest markets in the world, supporting the creation of jobs and driving growth at home'. Carlin, who has been named in The Times top 50 most ambitious business leaders, shared on LinkedIn that his son's private school, Mount St Mary's College and Barlborough Hall, was going into administration after 183 years. The school blamed the government's introduction of VAT on school fees and the removal of business rates relief for independent schools. He wrote last week: 'My son's school went into administration today after 183 years of operating. 'Sad news for the 500 children that need to find a new school during half term, the parents and of course the teachers. I guess this shows the way the UK is going right now?' Britain is on track to lose a record 16,500 millionaires this year as tax increases and falling economic confidence drives wealthy residents abroad. The latest Henley Private Wealth Migration Report, released earlier this year, predicted that in 2025 the UK would lose twice as many high-net-worth individuals as China and ten times as many as Russia. Analysis by Bloomberg of five million company filings found a spike in departing business leaders in recent months, including more than 4,400 disclosing an overseas move in the last year. Andrew Griffith, the shadow business secretary, said: 'This is yet another embarrassment for a government which does not understand business or the motivations of entrepreneurs. 'We need fewer press releases about hot tubs written by ministers who've been told to make themselves look busy or face the sack, and more action to reverse the damaging choices that Labour have made.' Richard Tice, the deputy leader of Reform UK, commented: 'Mr Carlin is saying what we are all thinking. This government has punished business, vindictively forced the closure of private schools and raised taxes on the wealth creators.' • The Secret Agent: 'Fine, get rid of the non-doms, but what's the plan to generate wealth?' Rachel Reeves has extended the Conservatives' crackdown on non-domiciled residents by removing the tax perk entirely, replacing it with a residence-based system. The chancellor also announced that British inheritance tax would apply to the global assets of wealthy foreigners who have lived in the UK for more than ten years. The government said: 'This pro-business government is taking bold action to back British companies as part of the Plan for Change, introducing the toughest laws on late payments in the G7 through our brand-new Small Business Plan, as well as a long-term Industrial Strategy to give businesses the certainty they need to grow. 'Ending tax breaks for private schools will raise £1.8 billion a year by 2029-30, helping us to fund vital public services including supporting children in the state sector.' Carlin was contacted for comment.
Times
3 days ago
- Business
- Times
Hot tub boss praised by PM launches broadside over wealth exodus
The boss of a hot tub company lauded by Sir Keir Starmer for driving economic growth has attacked the government, saying he can understand why 'masses' of wealthy people are leaving the country. Rob Carlin, the managing director of a Derbyshire-based manufacturer of hot tubs and swim spas, criticised the government's tax raid after his son's private school went into administration, and said that he 'cannot blame the masses who are leaving Britain right now'. Downing Street said Carlin's company, Superior Wellness, had been backed by UK Export Finance, the government's export credit agency, to secure a £2.3 million facility 'to accelerate exports in America, Europe and the Middle East'. No 10 said the firm's expansion showed the government was 'empowering British small and medium-sized businesses to access the largest markets in the world, supporting the creation of jobs and driving growth at home'. Carlin, who has been named in The Times top 50 most ambitious business leaders, shared on LinkedIn that his son's private school, Mount St Mary's College and Barlborough Hall, was going into administration after 183 years. The school blamed the government's introduction of VAT on school fees and the removal of business rates relief for independent schools. He wrote last week: 'My son's school went into administration today after 183 years of operating. 'Sad news for the 500 children that need to find a new school during half term, the parents and of course the teachers. I guess this shows the way the UK is going right now?' Britain is on track to lose a record 16,500 millionaires this year as tax increases and falling economic confidence drives wealthy residents abroad. The latest Henley Private Wealth Migration Report, released earlier this year, predicted that in 2025 the UK would lose twice as many high-net-worth individuals as China and ten times as many as Russia. Analysis by Bloomberg of five million company filings found a spike in departing business leaders in recent months, including more than 4,400 disclosing an overseas move in the last year. Andrew Griffith, the shadow business secretary, said: 'This is yet another embarrassment for a government which does not understand business or the motivations of entrepreneurs. 'We need fewer press releases about hot tubs written by ministers who've been told to make themselves look busy or face the sack, and more action to reverse the damaging choices that Labour have made.' Richard Tice, the deputy leader of Reform UK, commented: 'Mr Carlin is saying what we are all thinking. This government has punished business, vindictively forced the closure of private schools and raised taxes on the wealth creators.' • The Secret Agent: 'Fine, get rid of the non-doms, but what's the plan to generate wealth?' Rachel Reeves has extended the Conservatives' crackdown on non-domiciled residents by removing the tax perk entirely, replacing it with a residence-based system. The chancellor also announced that British inheritance tax would apply to the global assets of wealthy foreigners who have lived in the UK for more than ten years. The government said: 'This pro-business government is taking bold action to back British companies as part of the Plan for Change, introducing the toughest laws on late payments in the G7 through our brand-new Small Business Plan, as well as a long-term Industrial Strategy to give businesses the certainty they need to grow. 'Ending tax breaks for private schools will raise £1.8 billion a year by 2029-30, helping us to fund vital public services including supporting children in the state sector.' Carlin was contacted for comment.
