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Labour’s tax plans trigger exodus of millionaires from UK: Report

  • The UK has lost a net 10,800 millionaires in 2024, a 157 percent increase from 2023, as reported by New World Wealth.
  • Experts attribute the exodus to Rachel Reeves' controversial budget, which is said to negatively impact economic growth.
  • The planned tax changes are prompting relocation, with many citing the budget announcements as the reason for leaving, according to RSM UK's Rachel De Souza.
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  • 64% of the sources lean Right
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