Crime, weather and taxes driving British abroad

| 26/04/2011

(Telegraph): More than a third of wealthy UK residents are considering leaving the country because of high taxes, the weather and crime. A study of 1,000 people with more than £250,000 in savings and investments found 35% may move abroad because of high tax rates, while 44% blamed the weather and 43% want to avoid antisocial behaviour. Recent changes in tax rules have proved controversial for many Britons, including a combination of the 50% income tax rate on those earning more than £150,000, increases in national insurance and a reduction in personal allowances. Almost half of respondents to the Lloyds TSB research think Britons are worse off financially that people in other developed countries, while just 9% think people in Britain are better off.

“We are not expecting a mass exodus,” said Nicholas Boys Smith, managing director of Lloyds TSB International Wealth, “but, regrettably, many wealthy people are dissatisfied with life in the UK and are considering leaving.

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