One in ten of Britain’s richest people say they will leave if Jeremy Corbyn wins power
ONE in 10 of Britain’s richest people have publicly declared they are making plans to leave if Jeremy Corbyn wins power.
The multi-millionaires are also looking at moving their assets and businesses abroad to escape a massive new tax bombshell from the hard left Labour leader.
Others claimed the arrival of the lifelong Socialist in No10 would smash Britain’s enterprise culture – and dubbed the moment “Corbygeddon”.
The wealth exodus that could see tens of thousands of jobs also go emerged with the publication of the annual Sunday Times Rich List yesterday.
The billionaire Hinduja brothers came top on it, to again be crowned the wealthiest people in the UK.
Indian-born Sri and Gopi Hinduja, who are now London-based, saw their fortune spiral by £1.4bn in the last year to hit £22bn.
The Indian-born Reuben brothers took second place, pushing last year’s No1 – chemicals tycoon Sir Jim Ratcliffe – down to third place.
Some of the mega rich have already fled, it emerged.
WEALTH EXODUS
A tax expert told the newspaper he had helped 10 people who own £500m or more leave the country, totting up to £5bn over the past year that has disappeared.
Mobile home parks tycoon Alfie Best also declared he would pull his personal wealth out of the UK if Mr Corbyn got to No 10.
Mr Corbyn hit back at the billionaires to insist he will force them to be more transparent about their cash.
The Labour leader dubbed the Rich List “a stark reminder of the grotesque inequality that scars our society”.
He added: “Year on year, we see the rich getting richer, while pay for the majority hasn’t risen in a decade and household debt rises.
“In the interest of transparency, everyone on the list should publish where they are registered to pay tax and how much tax they have paid.
Shadow Chancellor John McDonnell dismissed the exodus claim, but still said tax for the most well off would go up, adding: “The next Labour government will ask the top 5% to pay a little more in income tax while tax rates for 95% will not increase”.
The new list showed Britain’s 1,000 richest individuals and families are sitting on record wealth of £771.3bn, up £47.8bn in a year.
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The UK’s number of billionaires has climbed to 151, up six on last year.
New entries include the songwriter Ed Sheeran and the golfer Rory McIlroy.
The threshold at which the super-rich make the list has risen £5m to £120m.
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