According to an article in the Guardian Super-rich prepare to leave UK ‘within minutes’ if Labour wins election. Not all of these super-rich will be UK citizens of course, and are free to chose where they want to live based on all manner of things.
But let’s take a look at those that are UK citizens. Labour singled-out 5 individuals who would be targeted with by a Labour government. Mike Ashley, the billionaire owner of Sports Direct and Newcastle United, is one of those targeted. Another is Rupert Murdoch, although the “charge sheet” against all of them is pretty damning.
So would the country be worse off without these people? No doubt they are already practicing tax avoidance schemes already, so the lost tax revenue will be minimal. The real question is whether they will close down their UK businesses?
Personally I doubt it. Ashley needs his Sports Direct Empire to remain in the UK despite any government action. I personally never shop there as I find their good to be crap and their sales staff incompetent (no doubt because of little or no training) so it will have no effect on me. In fact I’d rather someone else took the business over and put a stop to all the bad practices.
As for Murdoch, his business will never leave the UK. He is addicted to selling the masses a political fiction in support of the right-wing and that will never change.
But will the country be poorer for having these people move abroad? We’re always told that we need entrepreneurs to make money and let the “trickle-down” effect mean that the money goes into the pockets of the average person. I’m not sure the person on a zero-hours contract at Sports Direct would agree with that, or the person who’s been evicted by Hugh the 7th Duke of Westminster , to make way for luxury apartments.
No, if these gentlemen (and let’s face it they are usually men) want to leave then feel free chaps. I want a better society where people like you don’t exist anyway, so they will be doing me a favour.
We deserve better people, with better values who contribute to society, not just their own pockets.