The UK government has recently announced a significant tax increase that specifically targets ultra-rich foreigners, particularly those who are non-domiciled individuals. This tax package, amounting to £40 billion ($51.7 billion), was introduced by Chancellor of the Exchequer Rachel Reeves.

The main objective of these measures is to address the state of public finances and improve public services. While there were concerns from wealthy groups about potential repercussions, private equity executives were largely unaffected by the more severe tax measures.

The business community has shown only moderate support for the government's approach, indicating that the proposed fiscal changes may face some challenges.