Labour’s taxes are driving people out of Britain, Business Secretary admits
Labour’s tax rises are forcing wealthy people to flee Britain, the Business Secretary has admitted.
Peter Kyle said he was not going to “duck the fact” that individuals of a high net worth had been driven out by Rachel Reeves’s tax raid on non-doms.
He also said entrepreneurs were abandoning the UK “in their droves” because they “haven’t had the funding to succeed”...
Some 257,000 British nationals quit the UK in the year ending December last year – more than three times the previous estimate of 77,000.
The trend is unlikely to be a purely practical matter of taxation and failure to reduce obstacles to economic growth. Mostly that perhaps, but not entirely.
A visceral desire to escape this absurd Labour government and its contemptible, tin-eared incompetence must be another factor for competent people who can leave.
6 comments:
By a talk-of-the-Devil coincidence, this is the MP for Hove and Portslade, where Angela Rayner has recently established herself, a move possibly not unconnected with the prediction that, on current polling, she would have a one-in-six chance of retaining the seat of Ashton-under-Lyne.
As Business Secretary, he’ll be centre stage when Reeves’ policies hit the fan and the economy tanks, which will enable Labour to throw him under the bus just before the next election (always assuming they allow us to have one).
It’s all a little too reminiscent of those nature documentaries where a top predator moves into the territory of a lesser one to the accompaniment of a distinctly ominous soundtrack…
Macheath - that's an interesting point, maybe he is telling it as it is as in preparation for life beyond the HoC. Maybe he already has a move lined up and doesn't want to leave as a Starmer acolyte.
If you read what he said, you'll see that (a) he blames the previous government (how long is this nonsense going to go on?) and (b) he claims that Labour are doing all sorts of wonderful things to solve the problem.
Deluded or what?
Peter - yes, if only the real world would pay attention to those wonderful things Labour are doing, it might learn something.
We moved to New Zealand 10 years ago and we like to keep abreast of what is happening back home. I am becoming ever more thankful that we made the move. I had some regrets about leaving but seeing what a clusterfuck all the politicians are making there is no way we would want to return.
John - I've never visited New Zealand but I've no doubt you did the right thing. It's a mess and it's getting worse.
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