Latest news with #wealthExodus
Bloomberg
a day ago
- Business
- Bloomberg
How Does the UK's New Tax Policy Affect Where the Ultra Wealthy Live?
The end of the non-dom rule is sending millionaire Britons to new cities in the EU, but is it really a wealth exodus? (Source: Bloomberg)
Telegraph
21-05-2025
- Business
- Telegraph
‘I love the UK but there's a limit': Rayner's tax plans threaten fresh wealth exodus
Angela Rayner's proposed tax raid on savers and investors would trigger a fresh exodus of wealth creators from Britain, ministers have been warned. Andy Bell, the founder of AJ Bell, one of Britain's biggest consumer stockbrokers, warned that a blueprint drawn up by the Deputy Prime Minister would prompt businesses leaders and entrepreneurs to leave Britain. Many wealthy non-doms have already moved elsewhere after Labour scrapped the tax status earlier this year. Mr Bell said: 'Angela Rayner seems to think the answer to the UK's productivity problem is to tax anyone who's still producing. If the Government isn't careful, the non-dom exodus will extend to business leaders and entrepreneurs.' He added: 'I love the UK and have always seen paying tax as a sign of success, but there is a limit.' The comments come after The Telegraph revealed that the Deputy Prime Minister lobbied Rachel Reeves, the Chancellor, to consider further tax increases in her Spring Statement rather than cut welfare spending.
