Britain's wealthy are facing significant tax hikes following the Labour government's budget, which abolishes the non-dom regime and imposes new levies on private equity, second homes, and private jets. Finance Minister Rachel Reeves argues these measures are necessary for financial stability, but many affluent individuals are planning to leave the U.K., fearing a wealth exodus. Lobby groups warn that jurisdictions like Italy and Dubai are poised to attract the departing super-rich.
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