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Jun 2, 2025 |
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#economy
GB News: Rachel Reeves issued dire warning over 'reckless' tax as millions of 'wealth creators' to 'flee' Britain, damning report reveals
Rachel Reeves faces criticism over her taxation policy targeting non-doms, with warnings that it may drive wealth creators out of Britain. An independent report indicates that significant emigration could result in substantial losses for the Treasury, potentially reaching £12 billion by 2029.
Concerns are raised that even if no non-doms leave, Labour's projections for tax revenue are overly optimistic. Critics argue that the current approach could harm the economy and urge the government to reconsider its strategy to prevent further capital flight.