Good morning. A record number of millionaires are fleeing the UK, or so the headlines would have you believe. According to much of the British press over the past week, any attempt by Labour to introduce a wealth tax would send the country’s remaining super-rich scrambling for the exits.
The problem? There isn’t any clear evidence yet of a mass millionaire exodus from the UK. While there have been anecdotal stories of some wealthy individuals leaving recently, overall the number of millionaires – and billionaires – has been steadily rising over the past two decades.
