UK politician proposes "exit tax" on wealthy emigrants for £22B budget gap, facing criticism over possible deterring of investment and talent.
UK politician Rachel Reeves faces backlash for proposing a £22 billion budget gap could be closed with an "exit tax" on wealthy emigrants. Critics, including Conservative MP Kwasi Kwarteng, warn it could deter investment and harm the economy. Advocates argue it could raise £500 million annually, but detractors stress that it may drive talent away from the UK. The proposal highlights a broader debate on tax policy and its impact on economic growth and competitiveness.
October 08, 2024
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