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UK Millionaires Eye US Amid Proposed Wealth Tax

8/20/2025

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Summary

Story summary

Rachel Reeves' proposed wealth tax could prompt over 50% of UK millionaires to relocate, mainly to the US.
Arton Capital research indicates 53% of millionaires are considering moving abroad, with 60% citing improved quality of life.
The US is preferred due to recent tax cuts for the wealthy, with Canada, Australia, and the UAE as other options.

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Story summary

Rachel Reeves' proposed wealth tax could prompt over 50% of UK millionaires to relocate, mainly to the US.
Arton Capital research indicates 53% of millionaires are considering moving abroad, with 60% citing improved quality of life.
The US is preferred due to recent tax cuts for the wealthy, with Canada, Australia, and the UAE as other options.