UK’s millionaire exodus in 2024 equal to losing £4.3 billion in annual tax revenue, study says

https://www.independent.co.uk/news/uk/politics/reeves-labour-tax-non-dom-millionaire-b2684803.html

Posted by tkyjonathan

25 comments

  1. Rachel from accounts enters that into her excel model.

  2. One day we will work out you can’t tax your way to prosperity. We need to cut spending and live within our means.

  3. Good luck on the other country’s getting tax out of them cause our governments couldnt/wouldn’t

  5. Tax them for leaving or tax their business here.

    Dont let them use loopholes to avoid tax.

  6. But is it? Or is that figure the amount they SHOULD have been paying in tax, because you know that won’t have been the amount they paid thanks to loopholes, dodges and just plain avoidance of payment

  7. Is this the study based on LinkedIn location being touted again?

  8. Remember, the Remainers told us Brexit was pushed by the rich to save them from taxes, now we have Brexit but they’re leaving. Do you smell something?

  9. Honestly, I wish the mainstream media would stop pushing this as a reason to not close up the many tax loopholes we have in Britain and just sanction individuals and companies who use tax havens.

  10. Right wing think tank says taxing the rich is bad actually

  12. The far left will never understand these basic concepts.

  14. Shocked that a paper owned by a Russian Oligarch would publish a paper from a neo-con think tank that says we should go easy on the super rich.

  15. And we care why, millionaires and billionaires are driving prices up not down. Few less of them is all the better.

  16. It’s a worn out shit hope because we drive away those who can make it prosper

  17. Tax wealth and accumulated assets over £10m. We shouldn’t punish hard work but buying something and sitting on it while it appreciates isn’t work and will only lead to the top 0.1% eating us all

  20. For one, this article makes no mention of any additional tax revenue that will be collected from the increase in taxation, just scare mongering about non dom’s leaving.

    Secondly, a nation can not be held hostage by the rich, who in the last half decade have become wildly more rich whilst the average person has seen a loss in spending power.

  21. More important is adjusting the 40/50% tax brackets which been the same for years, that’s what is annoying me more than anything

  23. Even if this study was true, Brits leaving their country due to tax are traitors

  24. And the working/middle class will foot the bill. Next 5 years are looking grim.

  25. Serious question, as I’m not exactly up to scratch with this, but how does that balance against the extra income from the closed loopholes? I presume there must have been some or why bother? and does this study have any predictions for the long term when the situation stabilises. Obviously, if the rest of them are now paying 5billion more in tax revenue, it’s a net positive overall, and if they expect more to return to the country as the EU closes their loopholes, that could really swing it in our favour, or do they have a reasonable expectation as to why it won’t improve in the long term? The article doesn’t mention that from what I can see, and I’m always weary about clearly bias articles that omit any fact that may oppose the view they’re trying to push. Doesn’t mean they’re necessarily wrong, but I like to make my own decision with all the facts available.

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