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.
7 comments:
How they all laughed at that hopeless Liz Truss!
Of course, when the political culture and the Blob are so disposed, vindictive chancers like Starmer and Reeves will rise to the top. And, of course, although the Treasury will come for the middle classes once the super-rich have left, they won't get the money - because we simply don't have it. It will either be forced expropriation, or there will have to be massive cuts in services.
We can only hope that economists and commentators will make enough noise before then so that the current government can be destroyed, and their ideas with them.
In our extended family quite a few of the highly paid have legged it already and seem most unlikely to come back. And millionaires they ain't (yet).
There’s quite a bit on the hidden grapevine saying get out now.
Sam - yes, there is surely some hope when the political bungling is so extreme. When even mainstream journalists notice how bad it is, party managers must realise that things have to be toned down or the prime bunglers have to go.
dearieme - there must be quite a number of well-paid people who aren't millionaires but are now looking for opportunities abroad.
Anon - it's good advice too.
Honestly, other than remaining close to elderly parents, is there any good reason to remain in UK? Those of us North of the border have our own incentives to leave this theme park.
Look at TV, programmes and advertisements. Do the actors represent you? No? You are a stranger in your own land. The Powers that control us hate us.
In your job will you be promoted because of your skill and experience despite your gender, shade, politics, mummy and daddy?
Will your offspring inherit your property, afford a home, get a good education?
Honestly?
Mind you inflation has rather changed the meaning of millionaire. Our local house prices mean that a couple in a 4 bed semi in an attractive area already has a million. Pensions, savings, and investments add to that.
Doonhamer - for those in a position to leave, I don't think there is any good reason to remain in UK and there is no reason to think that will change. Those who leave are at least doing something about it.
dearieme - blimey, prices aren't that high round here, although some areas are becoming expensive even by local standards. Not many millionaires though.
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