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.
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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