Super-Rich Prepare To Leave UK If Labour Wins Election

0
26

Super-Rich Prepare To Leave UK If Labour Wins Election

Super-rich prepare to leave UK ‘within minutes’ if Labour wins election
Wealthy see potential taxes imposed by Jeremy Corbyn as bigger threat than Brexit

The super-rich are preparing to immediately leave the UK if Jeremy Corbyn becomes prime minister, fearing they will lose billions of pounds if the Labour leader does “go after” the wealthy elite with new taxes, possible capital controls and a clampdown on private schools.

Lawyers and accountants for the UK’s richest families said they had been deluged with calls from millionaire and billionaire clients asking for help and advice on moving countries, shifting their fortunes offshore and making early gifts to their children to avoid the Labour leader’s threat to tax all inheritances above £125,000.

The advisers said a Corbyn-led government was viewed as a far greater threat to the wealth and quality of life of the richest 1% than a hard Brexit.

Geoffrey Todd, a partner at the law firm Boodle Hatfield, said many of his clients had already put plans in place to transfer their wealth out of the country within minutes if Corbyn is elected.

Advertisement: Fine Island Resorts

“Lots of high-net worth individuals are worried about having to pay much higher taxes on their wealth and have already prepared for the possibility of a Corbyn government,” he said. “Transfers of wealth are already arranged – in many cases, all that is missing is a signature on the contract.AMIBC® - VOTE! BE COUNTED! BE HEARD!

SOURCE ⇒ THEGUARDIAN

Consider supporting our journalism with a contribution of any size. Readers from around the world, like you, make AMIBC™s work possible. We need your support to deliver quality, vetted, investigative journalism – and to keep it open for everyone. At a time when factual, honest reporting is critical, your support is essential in protecting our editorial independence.
The African-American narrative and issues impacting the culture is tantamount to the AMIBC™ platform. Every contribution, however big or small, is valuable for our future. Make sure to join the AMIBC Founders Club to maximize the total advantage of being a subscriber. Contribute by clicking on the advertisers featured on this site and utilize them.

This site uses Akismet to reduce spam. Learn how your comment data is processed.