AstraZeneca (the UK's most valuable company) has said they are thinking of delisting from the London Stock Exchange with a view to list in America. Other companies like Invidia, TUI, have also delisted. ARM is of course another one that got away.
At the same time, billionaires and centimillionaires are leaving the UK at the greatest rate ever.
Each delisting leads to redundancies or lower future growth. Each billionaire lost needs the equivalent of thousands of median income taxpayers to make up the tax lost.
What would you do to stop the rot? My solutions:
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Incentivise listings: Allow extremely large bonuses and executive remuneration as long as they are tied to long-term performance. Remove stamp duty on shares. Bring back reduced oversight for AIM etc so small companies can easily list. Actively invest government funds in high-tech incubator companies (as long as it's done by the likes of the Vaccine Taskforce, not by idiot civil servants whose idea of good governance was to try to obstruct the OneWeb investment).
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Incentivise share ownership in UK companies. Reduce dividend taxes. Revive the idea of the British ISA from Jeremy Hunt. Introduce low long-term capital gains tax rates (as many other countries have) to encourage long-term investing. Simply cutting Cash ISA allowances won't help.
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Encourage entrepreneurs and the rich to come to Britian rather than leave. Reverse the non-dom changes. Large increases in IHT allowances, cut the top rate of income tax. These tax cuts can be conditional on providing a large number of jobs to British workers to make them politically palatable.
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Cut corporation tax back to 20%. Sunak made a huge error in increasing corporation tax.
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Ditch the Rayner changes which makes Britain even more uncompetitive.
Of course Labour won't do any of the above (or even acknowledge that companies/investors leaving the UK is a problem)...