16,000 high-net-worth individuals are set to leave Britain this year, taking with them jobs, investment and growth. Here’s how we win them back…

We talk a lot about wealth in Britain. We just don’t talk enough about what happens when it walks out the door.

Because it’s happening. And faster than anyone wants to admit.

The truth is simple: the UK is haemorrhaging high-net-worth individuals. In 2022 alone, over 12,000 wealthy residents left the country. This year it’s set to top 16,000, according to Henley & Partners. Behind those dry figures lies a fiscal timebomb. These are people who disproportionately power our economy – who build companies, fund our start-ups, buy from our shops and pay more tax than entire towns put together.

HMRC’s own data shows that the top one per cent of earners now pay 28 per cent of all income tax. That’s a staggering burden on a small group. When just 1,000 of them leave, we don’t just lose their personal tax. We lose their businesses. We lose their spending. We lose the jobs........

© City A.M.