UK at ‘tipping point’ as millionaires consider moving abroad over wealth tax fears
Why so many millionaires are keen to leave the UK
- A new survey reveals that 60 per cent of British millionaires believe they could have a better life abroad.
- Over half of the wealthy respondents indicated they would be more likely to leave the UK if a wealth tax were introduced by Rachel Reeves.
- The CEO of Arton Capital, which commissioned the survey, stated that the country is at a tipping point due to economic uncertainty and the potential for new levies.
- This data emerges as the Chancellor faces pressure to introduce wealth-based taxes, with consideration for a new levy on house sales over £500,000.
- Despite concerns about potential emigration, two-thirds of British millionaires still consider the UK an attractive place for investment.