Britain Tries to Fix Its Frayed Relations With World's Rich
TL;DR
Bloomberg reports UK government reconsidering approach after £39.5B revenue projection assumed taxpayers would stay.
Documents government recognition that aggressive taxation is counterproductive—the Laffer curve applied to residency. Reports Reeves 'quietly trying to halt wealth and brain drain' through modifications to non-dom abolition, acknowledging that projected £39.5B revenue assumes taxpayers stay rather than leave.
Key Findings from Bloomberg (2025)
- Government expected non-dom changes to raise £39.5 billion
- Projection assumed taxpayers would stay and pay rather than leave
- Reeves reportedly 'quietly trying to halt wealth and brain drain'
- Considering modifications to non-dom abolition rollout