A survey indicates that 60% of British millionaires feel they could achieve a better quality of life abroad, with more than half of wealthy respondents considering leaving the UK if a proposed wealth tax is enacted. The uncertainty surrounding this tax reflects the broader global economic instability, including issues like Trump's tariffs and Middle Eastern conflicts. Experts warn that prolonged unpredictability could lead to a significant loss of capital, skilled talent, and long-term investments to countries perceived as offering more security.
Some 60 per cent of British millionaires believe they would have a better life abroad, a new survey has revealed. More than half of all the 1,000 wealthy respondents also said they are more likely to consider leaving the UK if Rachel Reeves introduces a wealth tax.
The uncertainty around the government's proposed wealth tax mirrors the ongoing economic uncertainty seen around the world from Trump's tariffs to conflict in the Middle East, it seems clear that the world is becoming less and less certain.
There are many repercussions of the introduction of a levy, but one thing is clear: the longer that unpredictability persists, the greater the risk of losing capital, talent, and long-term investment to countries that offer greater security for.
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