However, from the IFS reports I have seen the top 1 per cent of earners pay 30% of income taxes and the top 10% pay 60% of all income taxes. And they have taken the largest burden of increases in taxation so if many leave, that will inevitably result in middle earners having to pay more tax.
So I am not in favour of driving millionaires and high earners away. It does not make any sense to do so, economically speaking. What I do believe in is more wage equality and less top ups required by the state. The question is how to achieve that.
If the mobile top 1 per cent want to go elsewhere like Dubai, there is not really much anyone can do about it.