It’ll be people like you and me

Maxwell Marlow has a timely CAPX piece on Labour and the wealth-haters - short and well worth reading. From the perspective of this reader it's another reminder that we have far too many influential incompetents who cannot engage in competent debate. 


Labour’s hostility to wealth will cost us all dearly

‘Britain is set to be the worst in the world’ is hardly something that any government wants to see blasted across the headlines. Unfortunately for Labour, this is exactly what the Adam Smith Institute’s (ASI) new analysis is telling us about how many millionaires are thinking about legging it out of the UK.

Specifically, we are set to lose the greatest proportion of millionaires in the world. By 2028, we at the ASI have forecast that we will have lost a fifth of them. To put that into perspective, that’s a greater proportion than China or sanctions-afflicted Russia. Taiwan’s share of the population, meanwhile, is set to rise by 51% and Japan’s by 31%...

Are Britain’s wealth detractors right? If the UK becomes less attractive to rich people – then ‘so be it?‘ Well, they should be careful what they wish for. The top 1% in this country pays 29.1% of income tax – which is the Treasury’s biggest money maker, paying for public services and government projects. I’d say that is ‘paying their fair share’. If they leave the country, who do you think the Government will turn to to make up the shortfall? That’s right. It’ll be people like you and me.