Latest news with #toxic
Business Insider
5 hours ago
- Business
- Business Insider
The UK reportedly plans to woo the ultra-rich back with a new 'golden visa.' Analysts say the damage may already be done.
The UK is reportedly considering reviving its "golden visa" plan to attract wealthy foreign investors as it faces the prospect of a record-breaking outflow of millionaires. The proposed investor visa, which Bloomberg reported is under discussion by senior government ministers, would target high-net-worth individuals (HNWI) willing to invest in strategically important sectors such as artificial intelligence, clean energy, and biotech. The UK Home Office declined to comment on any potential plans. The move comes amid growing concerns that the UK's crackdown on tax perks for the wealthy — including the abolition of the non-dom regime in April — could drive a mass departure of wealthy residents and their capital. An April analysis by the Centre for Economics and Business Research found that if half of former non-domiciled taxpayers left the country, the Treasury could face net losses of £2.4 billion ($3.26 billion) in the first year alone. Until its repeal, the "non-dom" regime had allowed wealthy foreign nationals living in the UK to avoid paying UK tax on income earned abroad, making Britain especially attractive to global elites with international assets. However, according to Henley & Partners' Private Wealth Migration Report 2025, Britain is projected to lose 16,500 millionaires this year alone, more than any other country on record, including China, in part due to tax changes. It's a dramatic reversal for a nation once seen as a hub for global wealth. 'Much of the damage has already been done' Analysts blamed rising taxes, political instability, and the end of the non-dom status for the departure of the ultrawealthy. "There's no doubt a refreshed golden visa scheme could help slow the exodus and potentially lure some HNWIs back — but let's be clear: much of the damage has already been done," Nigel Green, CEO of global financial advisory giant deVere Group, told Business Insider. "The UK's competitiveness in the global race for wealth has taken a significant hit in recent times, and trust doesn't return overnight," he said. "Still, for those with long-standing business, personal, or cultural ties to Britain, it could be enough to start a conversation again. It's not a silver bullet, but it may be worth a shot." Matthew Lesh, UK country manager at consultancy Freshwater Strategy, blamed what he called "the toxic mix of historically high taxes and the abolition of the non-dom regime." He said it has "resulted in thousands of the world's wealthiest individuals fleeing" the UK, adding: "It's often forgotten that not only do the wealthiest have the widest shoulders, but also the longest legs." According to the UK's National Audit Office, wealthy individuals paid £119 billion ($161 billion) in personal taxes in 2023-24, accounting for 25% of all UK personal tax receipts. The top 29,000 earners alone were responsible for £34 billion in income tax. "A new 'golden visa' could be an attractive prospect for some of the world's wealthiest," Lesh continued, "but if they arrive to find themselves paying exorbitant taxes for poor public services and threatened by a new 'wealth tax,' they are unlikely to stick around for long." A tarnished history The UK's original Tier 1 investor visa, introduced in 2008, granted residency to foreigners who invested at least £1 million ($1.35 million). That threshold was raised to £2 million in 2014. The route was scrapped in February 2022 amid mounting concerns over illicit finance and national security, especially after Russia's invasion of Ukraine. A 2023 government review found that a minority of golden visa holders before 2015 were flagged as high risk, with some holders possibly linked to corruption or organized crime. That history has left a bitter legacy. In a letter to Chancellor Rachel Reeves this month, a coalition of anti-corruption groups warned that a new investor visa would "expose the UK to acute national security risks by facilitating foreign influence and the flow of illicit finance." 'Change the narrative' Supporters argue that a new plan could be more tightly designed, and is urgently needed. James Quarmby, head of private wealth at law firm Stephenson Harwood, told BI the government "can't afford to ignore the reality." "When you've got a lot of people leaving, you've got two choices — either stop them by changing the rules that are driving them out, or attract new people in." "An investment visa could change the narrative in the UK," he said. "Right now, the perception among wealth holders and their advisors is that the UK has become a hostile place for capital." Quarmby said the visa should be bold and transparent, with meaningful incentives: "£2 million is too low. I'd recommend a £4 to £5 million minimum investment. But that must come with tax incentives." "The government also needs to guarantee policy stability," he added. "People aren't going to relocate their lives and businesses to the UK only to have the rules change again in two years." Green echoed that view: "The number one deterrent is uncertainty. Tax policy has become unpredictable, and for HNWIs, that's a dealbreaker. It's not just about rates — it's about tone, messaging, and direction of travel." A political balancing act The proposal puts the UK government in a tricky position. While the government faces intense fiscal pressure and limited room for big tax hikes, it must also appease a parliamentary base wary of any measures seen as overtly pro-wealth. Quarmby predicts Labour will "quietly" pursue an investor visa under a different label. "I doubt they'll call it a golden visa — it'll be something more palatable, like a 'Global Talent Visa' with an investment component. That way, it sounds more blue-collar." Still, he sees the odds of action as high. "There's at least a 60-40 chance this happens. The Treasury is running out of options. If you're out of blood to squeeze from the current tax base, you need new blood." However, Green cautioned: "The UK used to be a magnet for global wealth — now it's often seen as a cautionary tale. Rebuilding trust will require sustained effort and meaningful reforms, not just a visa tweak."
Yahoo
2 days ago
- Health
- Yahoo
Fears invasive species is spreading as Aussie mates stumble upon 'fairytale' scene
A group of Aussie mates were cycling through a dense forest earlier this month when a fairytale-like scene suddenly appeared in front of them, prompting the mesmerised group to leap off their bikes and take a closer look. Sean Blocksidge and his friends couldn't believe their eyes when they spotted the cluster of three bright red and white mushrooms sprouting from the ground near Margaret River, south of Perth. 'We were all amazed at the size of them. Almost double the size we've seen in the past,' Sean, who snapped photos of his size 14 foot next to the fungi to highlight their size, told Yahoo News. However, a grim truth lurks behind the mushrooms' alluring appearance. 'Despite their fairytale looks, they're a toxic, invasive species,' Sean, the owner and operator of the Margaret River Discovery Company, revealed. Amanita muscaria — better known as the fly agaric — is an introduced fungus that is believed to have come into Australia on the roots of pine plants. The species, which is toxic to people and pets, is commonly found along the country's east coast, Tasmania and in parts of South Australia and southwest Western Australia. While it's made its presence known since arriving in the early 20th century, Dr Carol Booth, policy director for the Invasive Species Council (ISC), told Yahoo amanita muscaria 'has only recently been discovered in WA'. An article published by the state's Department of Environment and Conservation notes an increase in reports of the fly agaric popping up in pine plantations, gardens and parks in 2012. Toxic mushroom species 'more noticeable in recent years' Sean told Yahoo that although the 'invasive mushroom has been around for a while', it 'seems to be more noticeable in recent years'. Amanitas have been sprouting throughout the pine forests around Margaret River, Busselton, Pemberton and Nannup region over the past few weeks, he explained. 'This year is the most prolific and biggest size I've ever seen them,' he said. 'Almost double the size of previous years and most likely a result of some solid winter rain events.' While they are 'beautiful', Sean noted they're not great for native ecosystems — a sentiment shared by Dr Booth. 'That said, they've certainly made themselves at home in WA's introduced pine forests and look quite magical when you do spot them!' However, they are best admired from a 'safe, non-eating distance'. 🍄 Warning against eating 'creepy' growth commonly found in backyards 🌱 Property owners warned over harmful weed 'having a bumper season' 🪴 Aussies urged to dig up invasive plant that becomes 'very difficult to remove' Invasive mushroom can displace native fungi species, experts say Professor Brett Summerell, chief scientist at Botanic Gardens of Sydney, told Yahoo amanita muscaria is considered to be a 'weed mushroom' given it can displace native species of fungi, similar to invasive plants. Booth said the species 'forms mutually beneficial relationships with several exotic tree species', providing them with water and nutrients in exchange for carbohydrates. 'In Australia it has spread into native forests by jumping from exotic hosts to a native tree — the southern beech — and it may also jump to eucalypts, as it has overseas,' she said. 'This raises concerns that it could displace native fungi and alter the availability of nutrients for the trees it colonises.' Summerell said the mushrooms often appear from April through to July and can vary in size. 'I have seen them up to 30cm in diameter. They generally are larger in wetter years,' he explained. Their common name — the fly agaric — arises from the practice of placing the mushrooms, or powdered forms of the mushroom, in milk to attract and kill flies and other insects. 'The mushrooms can be toxic, although there are some who consume them for psychoactive properties, but it can be quite risky. Generally, they are not considered deadly,' Summerell said, adding the species has been 'been used in art and literature from the Renaissance', and is one of the mushroom emojis on your phone. Do you have a story tip? Email: newsroomau@ You can also follow us on Facebook, Instagram, TikTok, Twitter and YouTube.
Yahoo
2 days ago
- Health
- Yahoo
Poisoning prompts urgent plea to Aussies over invasive backyard plant
A poisoning has prompted a plea to Aussies to be aware of the grim truth lurking behind the alluring appearance of a 'pretty' plant often found on roadsides. While it might look like a harmless succulent, mother-of-millions — an invasive weed that escaped from suburban backyards — poses a serious risk to humans, pets, wildlife and livestock. The plant, native to Madagascar, is known for its striking red flowers that emerge every winter, however the blooms have a less than attractive side. The flowers are 'extremely toxic' to cattle, which 'often seek out alternative food sources when seasonal conditions impact pastures', a spokesperson for NSW's Local Land Services (LLS) told Yahoo News. A case of mother-of-millions poisoning in livestock was recently identified by a LLS veterinarian near Gravesend in the state's north west, the spokesperson explained, prompting a warning from the government agency. 'Cattle are the usual victims of poisonings,' the organisation posted online, adding ingesting even a small amount can cause diarrhoea, drooling, loss in appetite and death from heart failure. Livestock poisonings occur more frequently during the cooler months when 'plants are flowering, and frosts and dry weather have reduced palatable feed'. Popular backyard plant causes sudden death in livestock Mother-of-millions is also toxic to pets — especially dogs — and humans, but it's unlikely either would eat enough to become poisoned, according to NSW WeedWise. 'While mother-of-millions poisoning is uncommon, it can cause sudden death in livestock,' the LLS spokesperson told Yahoo. 'Livestock can die quite rapidly depending on the amount ingested and they can continue to die for a number of days after removal from the source. 'Landholders are encouraged to regularly inspect their properties and learn how to identify weeds such as mother-of-millions using NSW WeedWise, and report any new weed incursions to the Local Control Authority.' Invasive mother-of-millions can 'spread rapidly' Mother-of-millions, which was historically planted in gardens due to its ornamental qualities, is a declared weed in Queensland, but it's also considered a problem species in NSW and the Northern Territory, Imogen Ebsworth, the Invasive Species Council's (ISC) engagement director, told Yahoo. 'It spreads rapidly and can quickly take over natural areas if it escapes gardens,' she said. 'Because it's still legally sold and traded in many places, it's slipping under the radar — most Australians don't think of succulents as weeds.' However, experts are taking the plant very seriously. 'It was nominated as a Weed of National Significance, which is reserved for species with the potential to cause major environmental and economic damage,' Ebsworth explained. Following an assessment process, the species was not included. Mother-of-millions remains a weed of potential national significance and is widely distributed in the country's east. It can also be found in Victoria and parts of southern and Western Australia. The plant is frequently introduced to new areas in dumped garden waste and spreads in waterways or flood events. It is commonly found growing on sandy soils and disturbed sites such as roadsides, fence lines, and rubbish tips 🌱 Council's warning as popular plant sprouts up in 'hectic' location Aussies urged to dig up invasive plant that becomes 'very difficult to remove' 🏙️ Aussies told to check their backyards as popular plant 'infests' major city Calls to remove toxic weed from nurseries Ebsworth told Yahoo the ISC would 'love to see mother-of-millions removed from sale across the country'. 'Escaped garden plants are the primary source of new weeds in Australia,' she said, noting three-quarters of all listed weeds started out as ornamentals. She described the status quo as "a regulatory failure". "To date, self-regulation has failed. We are relying on everyday Australians to either have a botany degree or realise they need to research legally sold plants to find out if they are a weed. That's a system designed to fail.' In the meantime, Aussies are encouraged 'to be really careful' and refrain from tossing garden cuttings. 'Don't share or swap it, and if you need to dispose of it, bag it up securely and put it in the bin, not the compost,' Ebsworth you have a story tip? Email: newsroomau@ You can also follow us on Facebook, Instagram, TikTok, Twitter and YouTube.
ABC News
2 days ago
- Health
- ABC News
Federal funding for algal bloom, but no national disaster declared
The Federal Government has pledged $14 million to assist South Australia as it continues to deal with a toxic algal bloom outbreak, but has stopped short of declaring it a national disaster.
Yahoo
4 days ago
- Entertainment
- Yahoo
Inside Denise Richards and Aaron Phypers' ‘f–k you' fight that led to their divorce: report
Denise Richards and Aaron Phypers' divorce might have come as a shock to the public, but those close to them reportedly saw it coming. 'All they were doing was fighting. It was very toxic,' a source told the Daily Mail Friday. Phypers filed for divorce on Monday after nearly seven years of marriage and listed July 4 as the date of separation. 'They have been having trouble for some time, but they had a row over the weekend where they basically were like, 'F–k you,' and he marched off to file for divorce,' the source claimed. As for Richards, she is reportedly 'devastated and relieved at the same time,' as the source said she's 'mentally exhausted from the fighting' and 'glad that's over.' However, the 54-year-old actress is reportedly '100% not looking forward to the divorce because [Phypers has] made it clear that he won't go quietly, and she now has to gear up for a battle, which isn't what she wants.' Both Richards and Phypers, 49, vowed in a March episode of her since-canceled reality show, 'Denise Richards & Her Wild Things,' that they would 'never' get divorced. 'Even if we hate each other, I'm not gonna f–king get divorced,' Richards (who was previously married to Charlie Sheen) insisted, as Phypers (who was previously married to Nicollette Sheridan) added, 'No, we'll just have different homes or something. … But we're not gonna hate each other.' The Daily Mail's source noted that the estranged couple's finances played a role in their issues, claiming that their marriage was based on the philosophy that 'She earns, and he spends.' Phypers — who admitted in his petition that he has 'not made income since' shutting down his wellness business in 2024 — claimed Richards earns more than $250,000 per month via her OnlyFans account, TV appearances and brand deals. He went on to break down the pair's monthly expenses as a family of three (Richards' adopted daughter, 14-year-old Eloise, lives with them), claiming they spend a total of $105,000 per month on rent, bills, food, clothes and entertainment. Richards has not yet responded to the divorce petition, nor has she addressed it publicly. Reps for the duo have not yet responded to Page Six's requests for comment. Solve the daily Crossword
