Exit Tax from UK? (Budget Nov 25)

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Sorry to depress you all further but just watched this video on you tube by Jacob Rees-Mogg.

He seems to think there is a possibility of an 'exit tax' from the UK if you are thinking about leaving.

So worth a watch. He also gives a few other ideas although I'm guessing most people have filled up their ISA's for the year already and their pension as these are well known as being potentially changed.

He ends the video by saying he thinks we are going into a 'winter of discontent' which could last a few years.

Thats a bit rich coming from someone who was an active part of the last Government!

Does that not mean he is likely to be clued into what they are thinking or planning though........

No. Why would it? He’s in the opposition.

No, he doesn't have a clue. Nobody from the treasury is going to phone an ex-MP who lost his seat to ask for his views, particularly when he was an especially inept member of the last government.

He is just shit stirring as usual.

Why would you listen to rumours from a YouTube video from someone who isn’t even an MP? Plus it’s JRM 🙄

Actually he isn't, he lost his seat to Dan Norris so not even an MP.

True. Yes I’d forgotten that!

Perhaps they should introduce a “Toff Tax” and put that prick at the top of the list.

Okay fair enough. Bill Clinton did it in the nineties (exit tax) so I guess it's still a possible outcome even if you don't like the person saying it.

Billy Boy should have taxed cigars.

There’s already an exit tax on corporates. Not sure how you would apply it to individuals - particularly non-Brits

Lots of countries have an exit tax. I don’t really see the issue. Leaving a country and opting out of its tax system is a luxury. Why not get them whilst we can? They’re leaving anyway, who cares. Rather take from them and give to people here

There is quite a big shortfall to make up in the Budget in November. Lots of people will leg it to 'no income tax' countries like Dubai and Singapore if taxes increase. Probably a good way to get tax from people who are leaving anyway.

Emigrating is a luxury? Since when? My DD has four GPs and many other relatives who moved around because 1970s in Scotland and Ireland was horrific for unemployment and poverty. They lived in grinding poverty there (mill and mine workers) and moved to various parts of the UK and other countries so their kids wouldn't grow up the same.

If it's a deemed capital gains, fair enough because they had no assets. But I really object to the idea that the various disporas are all rich wankers who deserve to be punished.

Who in Labour would talk to J R-M?

I wouldn't take that man's unsupported word that the Sun rose in the east in the morning.

Is this the same JRM who told us we'd be rolling in gold after Brexit ?

Yes that’s exactly the same as it would be in 2025 🙄

Former MP, hasn't been in Parliament for more than a year, not from the party of government?

Yeah I bet Rachel's on the phone to him daily.