Spudda’s entirely right you know

This newspaper found that 28 out of 93 British billionaires — 30 per cent — have moved to tax havens or are in the process of relocating. Almost half of the 28 have left in the past decade.

People don’t move for tax reasons. There is no Laffer Curve.

9 thoughts on “Spudda’s entirely right you know”

  1. The phenomenon extends far below the billionaire class. Thirty-somethings with very high salaries are also on the move. Because it’s now easy in some jobs to base yourself anywhere within quite a wide range of choice.

    You have to keep a careful tally of how many days you spend working in the UK per year. You’d need to be handy for an airport with good international connections. Neither is very difficult.

    The stuff I learn from friends of the extended family, eh?

  2. Comrade ACO’s mother moved from NY to Florida because of the taxes. Mom isn’t a billionaire.

  3. “Almost half of the 28 have left in the past decade.”
    Those are the disappointed optimists who thought taxes on the rich would decline under a Conservative government and found that they actually went up in order to shrink the budget deficit.

  4. I wouldn’t be surprised if some were non-Dom.

    The tax regime has been made more inhospitable for them in the last decade.

    Spud’s standard line is;

    No-one moves for tax reasons and anyone you name doesn’t count as they are just one example and if you name lots of examples it doesn’t count because we didn’t want them anyway because they aren’t the sort of people we want in this country.

  5. A fair and progressive society requires close management, hence the growing emphasis on increasing regulations so as to increase control and increasing taxes so as to support a growing bureaucracy necessary to manage and exert such control. You’ll never be able to achieve a fair society so long as selfish people can just up and move. A system of internal passports and restrictions on movement is required. What farmer doesn’t fence his sheep? The Russians and Chinese have understood this for years and look at how fair and equal they are.

  6. @Andrew C

    Ritchie also says that the UK should tax on the basis of citizenship so that people who move for tax purposes are still subject to UK tax.

    When you point to the increasing number of people renouncing US citizenship for this reason and the numbers who could renounce UK citizenship are much higher (as so many people in the UK can get e.g. Irish passports) he deletes your post.

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