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Where will the rich people and the businesses go?

26 replies

ojalele · 17/05/2017 14:53

I have read on several threads that if taxes on the wealthy and on business are raised, then those people and their business will leave the UK.

So where will they go? I believe that the UK has relatively low taxation rates (compared to mainland Europe at least).

And if the UK has a relatively low tax rate, why are rich people from across Europe not all living in the UK? Could it be that people generally prefer to stay where they are and will put up with paying more taxes? And if so, isn't it a good thing to fund public services that are clearly struggling?

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darceybussell · 03/06/2017 20:57

It has happened before. When the income tax rate went up to 50% quite a few wealthy people moved overseas. They moved to places like Switzerland and Gibraltar.

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