UK Ultra-Rich Exodus Is Less Than Meets the Eye: Matthew Brooker (1)

An estimated 10,800 dollar millionaires left the UK last year, according to an updated statistic that has given fresh impetus for fulmination against the Labour government’s tax policies. The figure, produced by Johannesburg-based New World Wealth for British migration advisers Henley & Partners, is a potentially grim indicator — a 157% increase over the previous year and the world’s second-largest outflow after China. But for all that, there’s less here than meets the eye.

The departures, including 78 centi-millionaires and 12 billionaires, provided fuel for a lineup of the usual suspects to assert that Labour is driving away wealth creators; ...