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High Taxes Blamed for Britons Leaving the Country

The Telegraph, High Taxes and Crime Blamed for Britons Leaving the Country:

More than a third of wealthy British residents are considering leaving the country because of high taxes, the weather and crime.

A study by of 1,000 people with more than £250,000 in savings and investments found 35% may move abroad because of high tax rates, while 44% blamed the weather and 43% want to avoid antisocial behaviour.

Recent changes in tax rules have proved controversial for many Britons, including a combination of the 50% income tax rate on those earning more than £150,000, increases in national insurance and a reduction in personal allowances.

Almost half of respondents to the Lloyds TSB research think Britons are worse off financially that people in other developed countries, while just 9% think people in Briton are better off.

“We are not expecting a mass exodus,” said Nicholas Boys Smith, managing director of Lloyds TSB International Wealth, “but, regrettably, many wealthy people are dissatisfied with life in the UK and are considering leaving.


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