Will the super-rich leave the UK if they are taxed? No! Of course they won’t – they have too much here.
This was a question that arose online today, on one of the social media platforms. Someone suggested that many of the super-rich have already left the UK, and more will follow if there is a hint that they may have to pay more tax.
So I checked the facts, and here’s what I found:
While there have been claims that a significant number of the UK’s top earners might leave the country due to tax policies implemented by the Labour government, empirical evidence indicates that such departures are minimal.
Buy Cruel Britannia in print here. Buy the Cruel Britannia ebook here. Or just click on the image!
Research from the London School of Economics (LSE) suggests that the vast majority of Britain’s extremely wealthy individuals are unlikely to relocate for tax reasons, partly due to the stigma associated with such moves and their strong ties to the UK.
Studies have also found that tax is not a primary factor for wealthy individuals when considering emigration. Factors such as career opportunities, family connections, and cultural ties play more significant roles in their decision to remain in the UK.
It is true that precise statistics on the proportion of top earners who have left the UK specifically citing tax reasons since the Labour government took office are not readily available.
But existing research indicates that such instances are relatively rare.
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Will the rich leave the UK if they are taxed? NO!
Will the super-rich leave the UK if they are taxed? No! Of course they won’t – they have too much here.
This was a question that arose online today, on one of the social media platforms. Someone suggested that many of the super-rich have already left the UK, and more will follow if there is a hint that they may have to pay more tax.
So I checked the facts, and here’s what I found:
While there have been claims that a significant number of the UK’s top earners might leave the country due to tax policies implemented by the Labour government, empirical evidence indicates that such departures are minimal.
Buy Cruel Britannia in print here. Buy the Cruel Britannia ebook here. Or just click on the image!
Research from the London School of Economics (LSE) suggests that the vast majority of Britain’s extremely wealthy individuals are unlikely to relocate for tax reasons, partly due to the stigma associated with such moves and their strong ties to the UK.
Studies have also found that tax is not a primary factor for wealthy individuals when considering emigration. Factors such as career opportunities, family connections, and cultural ties play more significant roles in their decision to remain in the UK.
It is true that precise statistics on the proportion of top earners who have left the UK specifically citing tax reasons since the Labour government took office are not readily available.
But existing research indicates that such instances are relatively rare.
Vox Political needs your help!
If you want to support this site
(but don’t want to give your money to advertisers)
you can make a one-off donation here:
Be among the first to know what’s going on! Here are the ways to manage it:
1) Register with us by clicking on ‘Subscribe’ (bottom right of the home page). You can then receive notifications of every new article that is posted here.
2) Follow VP on Twitter @VoxPolitical
3) Like the Facebook page at https://www.facebook.com/VoxPolitical/
Join the Vox Political Facebook page.
4) You could even make Vox Political your homepage at http://voxpoliticalonline.com
5) Follow Vox Political writer Mike Sivier on BlueSky
6) Join the MeWe page at https://mewe.com/p-front/voxpolitical
7) Feel free to comment!
And do share with your family and friends – so they don’t miss out!
If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!
Buy Vox Political books so we can continue
fighting for the facts.
Cruel Britannia is available
in either print or eBook format here:
The Livingstone Presumption is available
in either print or eBook format here:
Health Warning: Government! is now available
in either print or eBook format here:
The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:
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