One unshakable law of economics is this: What you reward, you get more of, and what you tax, you get less of.
The government of the formerly Great Britain doesn’t seem to understand this fundamental law. They are proposing to hike taxes and fees, and high-income and wealthy (which are not always the same thing) Brits are looking to the exits.
An exodus is being reported by bankers, financial advisers and business chiefs with experts warning that the Chancellor risks ruining hopes of faster economic growth with a widely expected increase in capital gains tax (CGT).
It comes after Sir Keir Starmer warned last week that those with the “broadest shoulders” would carry the burden of fixing Britain’s ailing public finances.
She added: “People with hundreds of millions of pounds [are leaving] because changes can be more impactful for them.”
Those packing…
