I would never leave the UK for taxes, however I would leave for other reasons, like crime, lack of wealth creation opportunities, lack of an entrepreneurial environment, an extreme woke agenda, lack of career opportunities for my children, lack of good infrastructure, an incoherent immigration policy with illegal immigration out of control.”.
Arguably the rot started to set in as long ago as 2013 when the Chancellor George Osborne slapped a 15% stamp duty rate on more expensive London homes being bought through a company, a device often used by wealthy overseas buyers keen to keep their identity under wraps.
London’s loss is of course other cities’ gain, hence the huge efforts being made in Europe, the Middle East and Asia to pull them into their orbits through lures such as golden visa schemes as well as those trappings of W1 life coming soon to Abu Dhabi.
The move enraged many of the foreign born wealthy residents of London who had long considered themselves adoptive Londoners, but now no longer felt welcome.
Last year the millionaire trickle that began in 2016, the year of the EU Referendum, became a torrent with 10,800 departures of “high net worth individuals” with at least $1 million in liquid investable assets, according to figures from residence and citizenship advisers Henley & Partners.
