Source: Foundation for Economic Education
by Jake Scott
“Do the wealthy hate Britain? You would be forgiven for thinking so, from the way wealthy people and companies are fleeing the country. As many as 11,000 millionaires have left since the beginning of 2024, often taking their businesses with them. The effects are finally being felt: in April 2025, The Times reported that the receipts from Capital Gains Tax (CGT) fell from £14.5 billion ($19.3 billion) to £13 billion ($17 billion) — a 10% drop. But when one considers the reasons for this exodus and decline, the question that should be posed seems to be the exact opposite: Does Britain hate wealth?” (05/13/25)