The Labour Government
- Thread starter SkyBlueFlux
- Start date
75 majority in a Bill that they had to continually u-turn on right up to the last minute.
Without that they lose. 49 of his MPs voted against. They’re 1 year in and they are in complete disarray policy wise.
“Farage….reform……right wing media….black hole……train drivers”
Pensioners, the disabled, those on welfare!
This is supposedly a Labour government. Thank fuck for those who still remember that as Starmer and Reeves have forgot.
hilts
Well-Known Member
Looks like they only have borrowing and tax increases left and according to some borrowing is not really an option.
Chippy_boy
Well-Known Member
There's multiple sources. According to the Henley Private Wealth Migration Report 2025, the UK is expected to lose 16,500 millionaires in 2025, which is more than any other country in the world and more than double the number projected to leave China, which is second on the list with 7,800. This marks the first time in a decade of tracking that the UK has overtaken China as the top country for millionaire outflows. The report defines millionaires as individuals with over $1 million (about £740,500) in liquid, investable assets.
UK set to 'lose more millionaires' than any other country
The UK is expected to lose over 16,000 millionaires this year in a flight that could pile more pressure on the UK's parlous public finances.
www.cityam.com
The world's richest people used to flock to the UK. Now, it's bleeding millionaires at a record rate.
The UK faces a record loss of 16,500 millionaires in 2025, driven by tax hikes and post-Brexit economic instability, according to Henley & Partners.
www.businessinsider.com
UK to lose more millionaires than any other country in 2025, report warns
The UK is on track to lose more millionaires this year than any other country in the world, according to a new global wealth migration report that underscores growing concerns over the nation’s economic competitiveness and high-tax environment.
bmmagazine.co.uk
Millionaires on the Move: UK Braces for Historic Wealth Flight as Global Migration Peaks
A record-breaking 142,000 millionaires are projected to relocate internationally this year, with the UK expected to see the largest net outflow.
www.henleyglobal.com
Jimmieblue
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We met a someone on holiday who worked for a private company arranging accommodation for needy people in Sefton such as ex cons and drug addicts. They said they hoped PIP was abolished in the case of drug addicts as they immediately spent it on drugs. I was amazed that they got PIP but was assured that was the case. That sounds crazy to me.
hampshireblue
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It's about reality not lying. We want good public services, a good state pension, a good NHS, welfare benefits for those that are less able to work and the disabled. Now how is it all to be paid for, or which of the above are you prepared to reform ?
hampshireblue
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Or if it were you being criticised you would insist it was a valid opinion!!
Anyway in which areas of taxation are you prepared to pay a bit more? It's omly a few weeks ago you were moaning about higher council tax for your "very nice house", much of which goes on social care.
All of it.
Back on topic, Labour said no tax rises so they and Reeves will have done yet another policy u-turn and lied yes if they introduce as expected?
It’s a very simple yes or no.
bluethrunthru
Well-Known Member
I believe Johnson suffered almost a dozen defeats on votes in Parliament yet the press are displaying their bias again by having a Beano claiming this win by 75 votes is a disaster for Starmer. Its as clear as day what the agenda is.
meltonblue
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That’s just further proof of the problem though!
Most millionaires are hugely immobile, which is why when there were all the reports about the mass exodus leaving the UK, the media missed out that it equated to 0.3% of the millionaire population, which is the same percentage emigrating as any other group and in line with long term trends. The authors of the report you quote in a subsequent post (Henley) have backtracked on how they reported it recently.
None of that detracts from my main sentiment about the distribution of wealth though.
hampshireblue
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It's all very much on topic. You want it all without any idea how to pay for it. If Labour had even suggested that personal tax rises may be on the cards the RW press would have had a field day and we would have been lumbered with another 5 years of the last lot. If you remember, one of the reasons Sunak went for an early GE was that it was becoming evident that taxes would have to rise late last year.
It was a mistake however to rule out increases in the likes of VAT for a full term.
BlueHammer85
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they're making out its the first time ever in the history of politics a government has had some backbench rebellion.
Between the winter fuel allowance and now this ISA change I think they've left the door wide open for Reform to win the next General Election.
Should've kicked the can along a bit and at least got another term before upsetting everyone...
Should've kicked the can along a bit and at least got another term before upsetting everyone...
BrianW
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If you want to qualify for PIP, you need to do so before state retirement age.
After that magic date you will not get a single penny in PIP no matter what your issues, unless you qualified prior to retirement. All you will be eligible for is the much lower Attendance Allowance.
So your 10 years in the future bit is moot, at least for you.
I'm With Stupid
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Can you provide any that aren’t in the future tense?There's multiple sources. According to the Henley Private Wealth Migration Report 2025, the UK is expected to lose 16,500 millionaires in 2025, which is more than any other country in the world and more than double the number projected to leave China, which is second on the list with 7,800. This marks the first time in a decade of tracking that the UK has overtaken China as the top country for millionaire outflows. The report defines millionaires as individuals with over $1 million (about £740,500) in liquid, investable assets.
UK set to 'lose more millionaires' than any other country
The UK is expected to lose over 16,000 millionaires this year in a flight that could pile more pressure on the UK's parlous public finances.
The world's richest people used to flock to the UK. Now, it's bleeding millionaires at a record rate.
The UK faces a record loss of 16,500 millionaires in 2025, driven by tax hikes and post-Brexit economic instability, according to Henley & Partners.
UK to lose more millionaires than any other country in 2025, report warns
The UK is on track to lose more millionaires this year than any other country in the world, according to a new global wealth migration report that underscores growing concerns over the nation’s economic competitiveness and high-tax environment.
Millionaires on the Move: UK Braces for Historic Wealth Flight as Global Migration Peaks
A record-breaking 142,000 millionaires are projected to relocate internationally this year, with the UK expected to see the largest net outflow.
So a millionaire is anyone with liquid assets of £750,000? I'm halfway to that if I sold my house...There's multiple sources. According to the Henley Private Wealth Migration Report 2025, the UK is expected to lose 16,500 millionaires in 2025, which is more than any other country in the world and more than double the number projected to leave China, which is second on the list with 7,800. This marks the first time in a decade of tracking that the UK has overtaken China as the top country for millionaire outflows. The report defines millionaires as individuals with over $1 million (about £740,500) in liquid, investable assets.
UK set to 'lose more millionaires' than any other country
The UK is expected to lose over 16,000 millionaires this year in a flight that could pile more pressure on the UK's parlous public finances.
The world's richest people used to flock to the UK. Now, it's bleeding millionaires at a record rate.
The UK faces a record loss of 16,500 millionaires in 2025, driven by tax hikes and post-Brexit economic instability, according to Henley & Partners.
UK to lose more millionaires than any other country in 2025, report warns
The UK is on track to lose more millionaires this year than any other country in the world, according to a new global wealth migration report that underscores growing concerns over the nation’s economic competitiveness and high-tax environment.
Millionaires on the Move: UK Braces for Historic Wealth Flight as Global Migration Peaks
A record-breaking 142,000 millionaires are projected to relocate internationally this year, with the UK expected to see the largest net outflow.
And most of them are not British but "citizens of nowhere" with no loyalty or commitment to the UK, whose presence here has pulled house prices up especially in London, probably doing more damage to everyone else's standard of living (especially young people) than any good from their discretionary spending while here.
I really have no way of testing the "millionaire exodus" stories in the billionaire-owned media, but it is not without challenge. https://taxjustice.uk/blog/britannia-card-would-be-a-license-to-tax-dodge/
And far be it from me to criticise Brexit supporters who've moved to the EU since Brexit (and use Exile in their new username), but it's worth noting that "Since the 2016 Brexit referendum, Britain has steadily transformed from a haven for the rich to a launchpad for their departure".
Chippy_boy
Well-Known Member
Yes but when it's someone out of a cohort that contributes massively to our overall income tax rate revenues, it's a huge loss.
And it doesn't detract from the actual empirical evidence: When we put the top rate up to 50%, it raised a mere fraction of what was projected, and and even smaller fraction of the amount had everyone paid it. They just didn't, in large numbers.
We can talk about theories and projections and forecasts, but that's what actually happened. There's no likelihood at all that were we daft enough to do the same again, it would somehow work out better this time.
Chippy_boy
Well-Known Member
Yes but I am not your PA. If you are genuinely interested (which I very much doubt) you can Google it yourself easily enough.
Since Labour took office the UK has lost 10,800 millionaires, compared to circa 4,000 in prior years.
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Brewster's millions
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Cult-like behaviour.
You might want to have a read of John McDonnell’s comment piece in today’s Guardian, a left-wing view in a left-wing paper (so that you can spare us all the right-wing conspiracy theories). At least the first half of it where he discusses the complete shambles surrounding the welfare bill.
It’s a fair summary of the situation Starmer has placed himself in and what’s likely to follow.
west didsblue
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No, that’s one source with multiple reports of that one source.There's multiple sources. According to the Henley Private Wealth Migration Report 2025, the UK is expected to lose 16,500 millionaires in 2025, which is more than any other country in the world and more than double the number projected to leave China, which is second on the list with 7,800. This marks the first time in a decade of tracking that the UK has overtaken China as the top country for millionaire outflows. The report defines millionaires as individuals with over $1 million (about £740,500) in liquid, investable assets.
UK set to 'lose more millionaires' than any other country
The UK is expected to lose over 16,000 millionaires this year in a flight that could pile more pressure on the UK's parlous public finances.
The world's richest people used to flock to the UK. Now, it's bleeding millionaires at a record rate.
The UK faces a record loss of 16,500 millionaires in 2025, driven by tax hikes and post-Brexit economic instability, according to Henley & Partners.
UK to lose more millionaires than any other country in 2025, report warns
The UK is on track to lose more millionaires this year than any other country in the world, according to a new global wealth migration report that underscores growing concerns over the nation’s economic competitiveness and high-tax environment.
Millionaires on the Move: UK Braces for Historic Wealth Flight as Global Migration Peaks
A record-breaking 142,000 millionaires are projected to relocate internationally this year, with the UK expected to see the largest net outflow.