Britain’s exodus of millionaires last year was as damaging as the UK losing half a million taxpayers, a study has claimed.
The country lost 10,800 millionaires to foreign countries last year, more than double the number who left in 2023. It means that, since Labour came to power, one millionaire left the UK every 45 minutes. The exodus was sparked by Labour’s tax raids on private schools and non-doms as well as a general collapse in business confidence after Rachel Reeves’ October Budget.
