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Ultra-rich complain about UK tax and leave for countries like Monaco
The Guardian Economics reports that some ultra-high net worth individuals have been leaving the UK, with London no longer viewed as welcoming for extremely wealthy residents.
The outlet links the complaints to Labour’s stricter tax regime and to what departing individuals describe as negative attitudes toward extreme wealth.
In one example cited, Sir Jim Ratcliffe, who left Britain for Monaco in 2018, was included in a poster by a UK political campaign group, Everyone Hates Elon.
The article also notes at least one complainant suggested they were relocating due to London’s low-traffic neighbourhoods.
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