"Rachel Reeves' November budget could trigger a talent exodus in the UK and a serious deterrent to recruitment at the very moment the country needs to be competing for the best minds. The choices the Chancellor makes will define whether Britain positions itself as a global magnet for skills or as a more difficult, less rewarding place to build a career."
"The UK has undeniable advantages: world-class universities, deep financial markets, a stable legal framework, and a rich culture of entrepreneurship. But even strong foundations can erode when incentives shift. In the competition for skilled people, perception is everything, and fiscal policy shapes that perception faster than almost anything else. If professionals begin to feel that the reward for success is being diminished, they'll simply take their ambitions elsewhere."
"From Hong Kong to Dubai, from Milan to Toronto, governments are actively designing tax regimes and visa systems to attract global talent. In that context, every fiscal decision taken in Westminster now carries international consequences. The expected tightening of tax policy in November reflects a reality that can't be ignored. The Treasury faces a widening fiscal gap, with forecasts of around £30 billion due to sluggish growth, soft productivity and high debt servicing costs."
The November budget risks prompting a talent exodus and dampening recruitment at a critical moment for UK competitiveness. Fiscal policy and incentives can rapidly alter perceptions among skilled professionals and influence decisions to relocate. Many countries are actively tailoring tax and visa regimes to attract high-skilled workers, increasing external competition. The Treasury faces an estimated £30 billion fiscal gap driven by sluggish growth, weak productivity, and high debt servicing, creating pressure to raise revenue. Early signs include slowed recruitment, softer business confidence, cautious hiring, and growing professional interest in overseas opportunities, threatening investment and spending.
Read at London Business News | Londonlovesbusiness.com
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