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Why Are Millionaires Leaving The UK? – OpEd

10 0
07.07.2026

UK Leads Millionaire Exodus — Britain has become the world’s top country for millionaire emigration, with 16,500 leaving in 2025, largely due to high taxes and a business-unfriendly environment under the Labour government.

Critique of Mission-Led Government — The government’s adoption of Mariana Mazzucato’s “mission-driven” economic model has led to massive tax hikes (£40 billion ), surging national debt, and increased state intervention, which the author argues stifles genuine entrepreneurship and growth.

Need for Free Market Approach — Sustainable economic growth comes from individual entrepreneurs and businesses, not government-directed missions or heavy redistribution. The article calls for reducing state control to restore confidence and attract investment.

Samuel Johnson once wrote that “when a man is tired of London, he is tired of life.” Today, however, there seems to be one group that is tired of London: millionaires.

In the last week of June 2026, one of the world’s most famous antique fairs, the Treasure House Fair, took place in London, attracting collectors and dealers from around the globe. But this year, what attracted attention wasn’t only the antiques; it was the drop in foot traffic. At the time, the New York Times reported that “many dealers are facing a significant drop in foot traffic, or can no longer afford to have a showroom at all.”

The lack of customers for high-end items hints at the shift—the UK has recently surpassed China as the world leader in millionaire emigration. In 2025, roughly 16,500 millionaires left the country. China ranked second, with fewer than half that number. But Samuel Johnson should take note, because these millionaires aren’t tired of life; they’re tired of a mission-led government.

When the Labour government came to power in 2024, it had a........

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