We will not come back to the UK — we want to be in control of our wealth
https://www.thetimes.com/uk/politics/article/we-will-not-come-back-to-the-uk-we-want-to-be-in-control-of-our-wealth-srgpdf3rj
by Low_Map4314
We will not come back to the UK — we want to be in control of our wealth
https://www.thetimes.com/uk/politics/article/we-will-not-come-back-to-the-uk-we-want-to-be-in-control-of-our-wealth-srgpdf3rj
by Low_Map4314
28 comments
Good. Personally, I don’t want an excessive amount of rich around spoiling it for the majority. I know wealth controls freak the rich out, boo hoo. Their lack of control is starving us out of house and home, and we’re the vast majority in this democracy. Ok, less money for the exchequer, but less cronyist handouts to the already wealthy is no bad thing.
They’ll have 3 months to pack up should they lose their jobs. Where next?
Good.
IDGAF of presently they bring money to the economy, it doesn’t get spent on anything much more than lining other rich people’s pockets so fuck off.
always remember that at a critical mass wealth hoovers up wealth. The more they accumulate the more they can hold ransom over us. It’s always going to hurt to evict hoarders, but the time to do it is always years ago.
Realistically the UK is still a great place to be wealthy and I don’t think the budget will drastically alter that. The elephant in the room is where will they go? I’ve read Switzerland is in favour because of their political stability, but the tax situation won’t be any better. Similarly the US is unlikely to be hugely advantageous to the truly wealthy (not high income earners) because their tax systems skew more towards property ownership over income vs the UK.
I see Singapore mentioned in the article, but that’s more a place where investment bankers go to work for a few years so they can save up and buy property somewhere else, not a permanent residence
To each their own, if a French couple want to go to live in Singapore to escape the UK’s progressive tax system for a cheaper but still progressive tax system, more power to them. Personally, having spent a fair bit of time in Singapore, you couldn’t pay me enough.
I also feel they may find lower traffic and cheaper childcare but they’ll also find you pay as much in tax on a car periodically as a London nursery costs for 3 years! That’s why traffic is lower.
>He said: “The UK and Europe are broke — the very generous social model is showing its limit and you cannot continue to print money to fund such a lifestyle.”
Says the guy who works in finance, an industry riddled head to toe in corruption, fraud and mismanagement.
I wonder what his attitude was towards those same states printing money to bail out his industry… and as a result preserving his lifestyle
I implore them to avoid letting the door hit their arses on the way out. Pay your taxes or fuck off. That needs to be the message.
If they don’t want to be in the uk then just make sure they leave with no assets here to earn from. It’s fine if you don’t want to pay tax, sod off to any other country but you cannot have any property or wealth in the country. No money coming to you over seas.
The naivety of people here is insane. Saying it’s a good thing that high earners want to leave is so ridiculous if you want things in this country to get paid for. The top 1% of earners in this country pay 30% of tax. Who’s going to pay for the NHS if you think it’s a good thing they’re leaving?
So they hire 1 person to cook, clean and be a nanny on Singapore wages I can see why they wouldn’t come back. That 3 separate jobs that need to be paid well over here so they are abusing cheap labor.
We need international cooperation on properly taxing the wealthy. It was stupid to let it get this bad in the first place.
>*Their meals are cooked and domestic chores completed by a live-in maid from the Philippines, who also stands in as a babysitter for their two children.*
>*They used to work in the City of London but the lifestyle they enjoy now was not achievable on their UK income, despite earning six-figure salaries.*
Can’t find any foreigners to pay £300/month to be your live in maid/cook/babysitter in the UK. I really do weep for what the country has become!
Their assets cant move, and thats what we should tax. we shouldn’t be penalising someone who’s done well and earns a 6 figure salary, we should be working to stop rent money, money from our natural resources and money from our people being siphoned off to foreign investors and tax havens. We shouldn’t sit by and let someone make millions from our rent, our grocery money and our taxes ship it all off to Panama.
Lots of comments about whether these particular people are who we want in the U.K. are missing the theme of the article IMO.
The U.K. has a standard of living problem that isn’t getting any better. High skilled people don’t find the lifestyle that the U.K. (in this case London) can offer for their efforts a good exchange. This is a problem for everyone. The U.K. isn’t a particularly productive country any more and unless we turn this around our standard of living (all of our SOL) will continue to erode. Raising SOL begins with ensuring the above average productivity jobs and industries we already have stay on shore. The article explains how we’re failing at this in finance.
Our politicians do a very bad job of explaining how productivity influences our society. Mostly because it goes against their ideology. The comments in this thread show that if their goal was to confuse and divide they have done a good job.
Seems like everyone on this sub would be perfectly happy with every single person in the UK earning exactly £30k a year lol
Have fun being poor for the rest of your life while your American coworkers doing the same job are on $120k because their country actually appreciates wealth creation
I am fully aware that I’m a tired Dad whose short term memory is shot and clearly put them somewhere whilst distractedly doing something. Having checked everything I thought I did, sleeping on it in the hope I remember and still not finding them something odd is happening.
And some comments have persuaded me that it’s definitely not ghosts as they don’t exist and it’s clearly Gnomes.
Is anyone else baffled by the amount of column inches devoted to stuff like this?
The number of people who genuinely need to worry about a material impact on their wealth is tiny and in a lot of cases, despite the breathless Times and Telegraph articles, are smart enough to realise that there are other benefits to living in an affluent part of the UK they don’t want to give up.
I have a sneaking suspicion that a lot of this stuff is just to drive clicks from Tory voting LARPers, temporarily embarrassed millionaire types.
The taxation system has to be fair and transparent for all to see. If some don’t like that, then fuck off anyway, we don’t want you here. We don’t need corrupt Russian Oligarchs or Saudi oil prince’s anyway.
The roads are shit, hospitals are creaking, prisons are full, housing in short supply, government runs an annual deficit, there is no infrastructure spending, the rich have got richer, the poor have stayed poor and the middle class is being eroded. Someone please explain to me why we want these people to stay. They are parasites, not patriots. Please go.
The rest of us have to break our backs, earning barely liveable wages that we have to pay our taxes out of… so why can’t they afford to pay their taxes on their far more comfortable income? We need to clamp down on this behaviour hard, but for such a thing to be truly effective it would need to be an international agreement of epic proportions, to ensure that they have nowhere left to flee too.
Every time they talk about raises taxes for the wealthy this type of article gets rolled out. It’s bollocks basically. Some people might leave, whatever, but a better functioning country is likely to attract more wealthy people and it makes sense that those that can afford tax rises pay higher taxes.
This type of bollocks is like the bollocks of trickle down economics, bollocks. The very wealthy will be already hiding there money anyway.
What I’m gathering from this comment section is that the system is rigged in a way that we have to appease the rich to maintain any kind of quality of life in the UK. How did we let it get this bad?
It’s quite evident that the majority of commenters have not read the article. The two mentioned in the article are not the ‘elite’ or the ‘ultra-wealthy’. They’re workers, who were based in London, on six-figure PAYE salaries. Comfortable? Without doubt, especially as both of them are on six-figure salaries. Rich? No. Paying into the tax system more than they’re taking out? Yes.
Celebrating the departure of net contributors leaving the country is incredibly short-sighted and spiteful. This is not a good sign for Britain. An aspirational middle-class is important for productivity. Introducing cliff edges for tax, where you’ll begin to pay a marginal tax rate of 71% in tax in certain parts of the UK on a salary where you’ll struggle to afford a measly 2-bed flat in London, is a disincentive to working harder. For some, they’ll begin coasting or working part-time. For others, they’ll consider leaving the country.
Anger is being directed at the wrong group of people here. We’ll all be poorer for it.
Did the economy miss a beat? Not at all. Every ultra rich person could permanently leave the UK tomorrow and nothing would change. The same demands will be met with supply, wealth will still be created every second of everyday by the productive activities of the masses – *that* is the economy, and until labour (not the party) unites and reimagines the distribution of wealth that is generated by their daily efforts, they will continue to be exploited.
“our wealth” like the unit of people they depend on to live in a society like this extends to the limit of their immediate family…
This is typical fear mongering. Let them leave. The highest rate of tax for most of the 20th century was 80-90%. That’s how we afforded the once great public services we have now. Over the years they have convinced us that if we increase taxes, they will leave we are buggered. This isn’t true.
We need to tax people with assets, not working people. They can’t pick their assets up and take them with them. These people aren’t doctors, lawyers or working people that people think of when they think of the rich. They are extremely wealthy individuals making millions per year who give fuck all back to society. Let them leave.
Can’t blame them. If I had the money and the opportunity I would leave this dead rock too