{"id":152335,"date":"2025-06-02T14:44:11","date_gmt":"2025-06-02T14:44:11","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/152335\/"},"modified":"2025-06-02T14:44:11","modified_gmt":"2025-06-02T14:44:11","slug":"uk-households-face-having-to-flee-england-over-rachel-reeves-tax-change","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/152335\/","title":{"rendered":"UK households face having to ‘flee’ England over Rachel Reeves tax change"},"content":{"rendered":"

New analysis from former Treasury economist Chris Walker estimates that significantly more departures are expected in the coming years.\"UKUK households face having to ‘flee’ England over Rachel Reeves tax change<\/p>\n

UK households face “fleeing” the UK after Labour Party government and Chancellor Rachel Reeves’ changes on nom-doms<\/a>. New analysis from former Treasury economist Chris Walker estimates that significantly more departures are expected in the coming years.<\/p>\n

The new report found previous research “over-optimistic and incomplete”. A Warwick University paper “Taxation and Migration by the Super Rich”, suggested a mere percentage of nom-doms would leave the UK.<\/a><\/p>\n

But that has now been refuted by research by the Centre for Economics and Business Research (CEBR). The CEBR estimates that if 25 per cent of non-domiciled residents leave the UK, the net gain for the Treasury would be zero.<\/p>\n

READ MORE Smart motorways could be scrapped from England entirely<\/strong><\/a><\/p>\n

If departures exceed this 25 per cent threshold, the Treasury would begin to lose revenue rather than gain it. The report estimates 26,000 non-doms \u2013 out of 238,000 who claimed non-dom status in the last 18 years \u2013 have left the UK based on figures from Henley & Partners on the number of millionaires leaving London in 2024.<\/p>\n

Chris Walker, founder of CW Economics and the report\u2019s author said: \u201cIt is clear that the original research that underpinned the Government\u2019s decision to abolish non-dom status took a leap of faith.<\/p>\n

“Its methodology around predicting behavioural changes was too narrow and that led to very optimistic findings about the number of non-doms who would leave and the amount of tax revenue the Treasury would raise.”<\/p>\n

Commenting on the research, which was commissioned by pro-enterprise campaign group Land of Opportunity, shadow business secretary Andrew Griffith accused Reeves of getting her \u201csums badly wrong\u201d.<\/p>\n

\u201cInvestors and wealth creators leaving the UK for brighter shores is nothing short of disastrous for our economy. It also means we will all have to pay higher taxes to make up the shortfall,\u201d he said.<\/p>\n

\u201cJust like a company in turnaround, the Conservative Party<\/a> is under new management. Whilst there is much further to go, we are the only party unapologetically and consistently standing up for businesses and wealth creators.\u201d<\/p>\n

Cebr managing economist Sam Miley said the government was \u201chighly dependent\u201d on how many former non-doms it could keep in the UK.<\/p>\n

\u201cFor every non-dom deciding to relocate, the Treasury will not only lose the tax revenue from their income and gains, but also from their day-to-day activities, with non-doms typically being high spenders as well as high earners,\u201d Miley said.<\/p>\n","protected":false},"excerpt":{"rendered":"New analysis from former Treasury economist Chris Walker estimates that significantly more departures are expected in the coming…\n","protected":false},"author":2,"featured_media":152336,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5008],"tags":[748,393,4884,16,15,961],"class_list":{"0":"post-152335","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-england","8":"tag-britain","9":"tag-england","10":"tag-great-britain","11":"tag-uk","12":"tag-united-kingdom","13":"tag-your-money"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114614309051177809","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/152335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=152335"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/152335\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/152336"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=152335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=152335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=152335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}