UK Wealth Tax Would Spur Millionaire Exits to US, Survey Says
According to a recent survey, over 50% of UK millionaires have indicated they would be more inclined to relocate to the United States if the Labour government implements a new wealth tax. The survey suggests that such a tax policy could prompt a significant exodus of high-net-worth individuals from the UK. This potential migration of wealthy individuals has raised concerns about the potential impact on the UK's economic landscape and tax revenue. The findings highlight the sensitivity of the wealthy to tax policy changes and their willingness to consider alternative jurisdictions to preserve their assets. The survey results provide insights into the potential unintended consequences a wealth tax might have on the UK's ability to retain its affluent population.
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