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 purely a 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.
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