“Immature Government” | Labour’s Tax Policy Under Scrutiny | Alex Phillips

Rachel Reeves is being urged to introduce an “exit tax“ on wealthy investors moving their money abroad. The Resolution Foundation, a Left-leaning think tank, has called for Labour to impose a capital gains tax on those relocating overseas. Wealth managers have seen a rise in wealthy individuals leaving the UK ahead of next month’s Budget. Currently, investors avoid capital gains tax on UK shares if they live abroad for over five years. The Resolution Foundation suggests scrapping this rule, similar to exit taxes used in Australia, Canada, and the US. The UK may lose up to 9,500 millionaires this year, double the number from 2023. Alex Phillips speaks with former Reform UK deputy leader, Ben Habib and political commentator, Benedict Spence. #news #politics #money #government #labour #rich #tax #keirstarmer #talk #talkradio