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Rich Brits looking to emigrate
Rich Brits looking to emigrate
| Published: | 16 Apr at 6 PM |
One in five people from the UK with over £250,000 in savings are considering living overseas because they are fed up with the high cost of living, poor weather and crime, revealed Lloyds Banking Group’s wealth management arm.
The UK, suffering its worst economic crisis in almost a century, is trying to find a way of preserving its reputation for being a safe haven for wealthy foreigners while slashing public spending and increasing taxes at the same time, a report in CTV News stated.
However, the Lloyds TSB International Wealth research revealed that 19 per cent of well-off UK citizens are considering moving to countries in the eurozone such as Spain and France, or further afield to places including the United States, Canada, Australia or New Zealand.
Of the respondents, over 60 per cent said that investing funds into better infrastructure could make the country a more pleasant place to live in, while roughly half said they wanted lower taxes and businesses not to have to contend with so much red tape.
With the majority of the 62 million people in Britain facing the pinch of increasing prices and low wage growth, the rich being taxed has developed into a problem area for the coalition government.
The UK, suffering its worst economic crisis in almost a century, is trying to find a way of preserving its reputation for being a safe haven for wealthy foreigners while slashing public spending and increasing taxes at the same time, a report in CTV News stated.
However, the Lloyds TSB International Wealth research revealed that 19 per cent of well-off UK citizens are considering moving to countries in the eurozone such as Spain and France, or further afield to places including the United States, Canada, Australia or New Zealand.
Of the respondents, over 60 per cent said that investing funds into better infrastructure could make the country a more pleasant place to live in, while roughly half said they wanted lower taxes and businesses not to have to contend with so much red tape.
With the majority of the 62 million people in Britain facing the pinch of increasing prices and low wage growth, the rich being taxed has developed into a problem area for the coalition government.
