Summary:
UK millionaires are leaving Britain due to tax reforms introduced by the government, with over 10,800 millionaires leaving in just one year.
Full Story:
More than 10,800 millionaires left Britain last year, representing a 157% increase from the previous year, according to The Times. This exodus of high-net-worth individuals is due to the UK government’s tax reforms. Wealthy residents are seeking refuge in countries with more favorable tax regimes. The trend has reportedly accelerated under the current government led by Sir Keir Starmer. This development may have implications for the UK’s economy and tax revenue. One possible beneficiary of this trend is Monaco, known for its favorable tax policies. The small principality is attracting wealthy individuals who are looking for a more advantageous tax environment. Monaco has long been an attractive destination for the rich and famous, with its luxurious lifestyle and tax benefits. The Prince of Monaco and his family also contribute to the prestige and appeal of the principality.
Source:
news.mc
