‘I love the UK but there's a limit': Rayner's tax plans threaten fresh wealth exodus

Angela Rayner's proposed tax raid on savers and investors would trigger a fresh exodus of wealth creators from Britain, ministers have been warned.
Andy Bell, the founder of AJ Bell, one of Britain's biggest consumer stockbrokers, warned that a blueprint drawn up by the Deputy Prime Minister would prompt businesses leaders and entrepreneurs to leave Britain.
Many wealthy non-doms have already moved elsewhere after Labour scrapped the tax status earlier this year.
Mr Bell said: 'Angela Rayner seems to think the answer to the UK's productivity problem is to tax anyone who's still producing. If the Government isn't careful, the non-dom exodus will extend to business leaders and entrepreneurs.'
He added: 'I love the UK and have always seen paying tax as a sign of success, but there is a limit.'
The comments come after The Telegraph revealed that the Deputy Prime Minister lobbied Rachel Reeves, the Chancellor, to consider further tax increases in her Spring Statement rather than cut welfare spending.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Daily Mail​

18 minutes ago

• Daily Mail​

ANDREW NEIL: No future UK government has a hope of making things better if it can't reform our incompetent Left-wing, WFH civil service

Former Tory Cabinet minister-turned-magazine editor, Michael Gove, this week revealed that, as Education Secretary, he had to overrule civil servants who wanted to suppress newspaper revelations about in Rotherham. The local council requested the government join it in legal action to prevent The Times from publishing details of its ground-breaking investigation into the scandal. Some senior civil servants in his department advised Gove to join in this bid to muzzle the press.

Auto Car

29 minutes ago

• Auto Car

MWIC Bonus Episode 13: Autocar Meets car designer Julian Thomson, GM Advanced Design Europe

Close Julian Thomson is one of the world's best car designers and if you don't know the name, you'll know his cars. As Lotus's chief designer he designed the Elise and at Jaguar Land Rover created the LRX concept, which went on to become the Range Rover Evoque. But most of Thomson's career has been spent in advanced design and that's where he finds himself now, at General Motors' new advanced design centre Europe. Why does GM need a European design centre and what will it do? Join Steve Cropley and Matt Prior as they put these questions and many more to one of the world's most eminent car designers.

Daily Mail​

33 minutes ago

• Daily Mail​

EXCLUSIVE Nicola Peltz is spoiled. Do they realise what their sneering sounds like?: After 'tight' accusation David and Victoria's friends call KATIE HIND and let rip - and reveal true story

When Brooklyn Beckham turned 15, he got a job as a barista in a Kensington coffee shop where his remuneration was a modest £2.68 per hour. It was part of a plan by his parents, David and Victoria, to teach their children the value of money.