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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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More than 10,000 millionaires have left the UK in the past year, according to an analysis by consultancy New World Wealth (NWW) published in The Times, German news agency DPA reported on Sunday. ...

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Over 10,000 millionaires have left the UK in the last year, according to an analysis by consultancy firm New World Wealth (NWW) published in the daily newspaper "The Times", DPA reports, quoted by Agerpres.

·Romania
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The Times broke the news in United Kingdom on Friday, January 17, 2025.
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