70% Tax Rate Expected To Cause Expat Exodus

 

Increasing income tax for top-earners could provoke an expat exodus, Shelter Offshore has warned.

Comments from the expat community site came ahead of chancellor Alistair Darling's annual pre-Budget report which will be held in Parliament later today (December 9th).

talk of increasing the top tax threshold to 70 per cent, the site warned that such a move could cause outrage among high-income earners, creating a brain drain at a time when the country will need all the help it can get from the private sector to prevent it from buckling under the weight of its public debt burden.

"After all, who wants to again live through a period in Britain where the country is crumbling, infrastructure is creaking, strikes are a reality, jobless queues are lengthening, more shops are boarded up and no one is investing in anything," asked the site.

For those who are considering a move abroad, whether for economic or lifestyle purposes, carrying out thorough research may make integration into a new community easier./p>

Researching expat medical insurance may be a simple way to ensure access to healthcare, while Shelter Offshore also recently advised expats to take the time to learn the local language to help ease themselves into the community.