The Adam Smith Institute projects a 20% decline in the number of millionaires in Britain due to proposed Labour tax increases, which could prompt over 9,500 millionaires to leave.
32% of the population cited potential changes in the tax system as their main reason to consider moving abroad, indicating broad concern beyond just the wealthy.
The upcoming Autumn Budget is expected to reform taxes on inheritance, capital gains, investment income, and pensions, leading to significant losses for the UK economy.
If Brits act on their plans to move abroad, the UK could see billions lost in revenue from businesses and property, along with investment assets.
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