Why are millionaires ditching the UK in droves?

The UK is set to lose the greatest proportion of millionaires in the world in the next four years, new analysis suggests, as a group of respected academics joined growing calls for Rachel Reeves to introduce an exit tax at the upcoming Budget. The Adam Smith Institute’s Millionaire Tracker – a new initiative from the right-leaning think tank – predicts that the share of the UK’s population who are millionaires will plummet by 20 per cent before 2028. The sharp drop makes the UK a major outlier in the 36 countries that the study examined, most of which can expect the proportion of their population that are millionaires to rise over the next four years. The next biggest loser is the Netherlands, the study found, whose population of millionaires as a share of the overall population will fall by five per cent. Saudi Arabia is set lose the third highest proportion of millionaires. Get more of the story https://www.cityam.com/record-number-of-millionaires-to-leave-uk-as-top-academics-join-calls-for-exit-tax/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Ali Lyon, Scarlett Wild, Larissa Howie