Around 500,000 millionaires are set to abandon the United Kingdom as Prime Minister Sir Keir Starmer looks to impose higher capital gains taxes and strip tax breaks from so-called “non-doms”—resident foreigners whose permanent home, or domicile, is overseas.
The 500,000 figure comes from UBS’s latest Global Wealth Report, with the exodus expected to conclude by 2028. It would cut the number of millionaires in Britain by around 17 percent, the largest relative fall in the millionaire population of any country covered by UBS.
Cities like Milan, Italy, are becoming new havens for millionaires frustrated with the Britishgovernment. Italy entices wealthy foreigners with a flat tax of 100,000 euros (~$110,000) a year, increasing spending, attracting investments in retail and hospitality, and boosting retail rents in areas where the wealthy congregate.
Last year, 74,000 non-doms contributed £8.9 billion ~($11.5 billion) in taxes. While law changes requiring non-doms to pay tax on all worldwide income increase their contributions in theory, the reality is many will exit the United Kingdom, and the government will collect no taxes from them whatsoever.
Paul Donovan, chief economist at UBS Global Wealth Management, noted that Britain currently has the world’s third-highest number of dollar millionaires but argues this is “far more… than it deserves to have as an economy.”
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Around 500,000 millionaires are set to abandon the United Kingdom as Prime Minister Sir Keir Starmer looks to impose higher capital gains taxes and strip tax breaks from so-called "non-doms"—resident foreigners whose permanent home, or domicile, is overseas.
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A 24-year-old has been arrested for attempted murder after launching a brutal knife attack on a British soldier in full uniform near his barracks in Sally Port Gardens, Chatham, on Tuesday. Eyewitness accounts say the suspect leaped from a moped near Brompton Barracks, where Royal Engineers soldiers are trained, and fell upon the unnamed serviceman, stabbing him multiple times. He is reportedly in critical condition.
Images of the suspect show him wearing a ski mask and a NASA bomber jacket. Only his hands are visible due to his face being blurred. They appear to show he is black.
Neither the suspect nor his victim, reportedly a man in his forties, have been named, and the authorities had offered no motivation for the attack as of the time of publication. However, terrorism has not been ruled out.
In 2013, Royal Fusiliers drummer and machine-gun operator Lee Rigby was run down by a car and almost decapitated by British-Nigerian jihadists Michael Olumide Adebolajo and Michael Oluwatobi Adebowale near his barracks in Woolwich, London.
The pair were linked to Pakistani-British hate preacher Anjem Choudary, who was convicted of directing a terrorist organization shortly before the Sally Port Gardens attack.
Some commentators, including former Metropolitan Police detective Peter Bleklsey, believe Choudary’s conviction and the attack at Sally Port Gardens are likely to be connected.
This story is developing…
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A 24-year-old has been arrested for attempted murder after launching a brutal knife attack on a British soldier in full uniform near his barracks in Sally Port Gardens, Chatham, on Tuesday. Eyewitness accounts say the suspect leaped from a moped near Brompton Barracks, where Royal Engineers soldiers are trained, and fell upon the unnamed serviceman, stabbing him multiple times. He is reportedly in critical condition.
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Reform Party leader Nigel Farage MP has used his first (maidan) speech in the British parliament to highlight his constituency of Clacton, as well as call for a new referendum on Britain’s membership of the European Court of Human Rights (ECHR).
The ECHR is an international court based in Strasbourg, France that oversees the enforcement of the European Convention on Human Rights by its member states. It was created in 1959 and is primarily responsible for adjudicating individual or state applications alleging violations of the civil and political rights set out in the Convention.
The court’s judgments are binding on the countries concerned, and member states are expected to implement them. The ECHR recently ruled that member states must do more to tackle climate change, and the court encourages mass, illegal immigration into Britain. Public support for the institution is said to hover around 50 percent.
Speaking in Parliament, Farage said: “[If] you came to Britain illegally during the last Labour government. Your feet didn’t touch the sides. You were gone. You were out. Indeed, in the last year of the Labour Government, from 2009 to 2010, 50,000 people who came here illegally were deported. Now, none of that happens anymore.
“It didn’t happen under 14 years of Conservatives, and it clearly isn’t going to happen under this Labour government. And I wonder why. I think you’ll find it’s the increased role of a court overseas that was set up in the wake of World War II with the very best of intentions that has now completely outlived its usefulness. It is, of course, called the ECHR, the European Court of Human Rights, and it was the Labour Government that enshrined the convention into British law.
“We will not stop the boats, even if we send a handful to Rwanda. We will not stop the boats by attempting to smash the criminal gangs. We’ve been doing that to the drugs industry in Britain year after year, decade after decade, with no success whatsoever. The financial rewards for smuggling people across the English Channel can now net a gang 2 to 3 million euros a week. Whatever prison sentences or penalties are put upon them, there will always be people volunteering to make millions of euros a week.
“We will only stop this if we start deporting people that come illegally. Then they won’t pay the smugglers. We will only do that by leaving the ECHR.
“But I’ve got a fun suggestion that I think would liven up politics, engage the public, and see a massively increased turnout. Why don’t we have a referendum on whether we continue to be members of the ECHR?”
WATCH:
My maiden speech to the House of Commons. I’ve had a long time to think about it! pic.twitter.com/qwfzbGFMyz
Reform Party leader Nigel Farage MP has used his first (maidan) speech in the British parliament to highlight his constituency of Clacton, as well as call for a new referendum on Britain's membership of the European Court of Human Rights (ECHR).
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Reform Party leader Nigel Farage believes former President Donald J. Trump will be “delighted” to face Vice President Kamala Harris in November if she secures the Democratic nomination now Joe Biden has bowed out. He has also revealed the Trump family is “incandescent” at the security failures that allowed a gunman to open fire on the former president in Butler, Pennsylvania.
On Biden‘s exit from the race, Farage told British radio it had become “impossible” for the Democrats to sustain him as a viable contender. “The debate was bad enough; they managed to quell that, but… they couldn’t hide him in a bunker when it came to the NATO summit,” he said, recalling how Biden introduced Ukraine’s Volodymyr Zelensky as “President Putin” and referred to Harris as “Vice President Trump.”
“Look, they’ve been covering up for this guy for years,” Farage said. “He’s not been up to the job for years… an incompetent man who, you know, is sadly past his sell-by date.”
TRUMP VS. HARRIS.
Farage believes Trump will be “delighted” to face Harris, whom Biden has endorsed, noting her lack of support when she ran against Biden for the Democrats’ 2020 nomination. He also notes her close association with the illegalimmigration crisis, with Biden having put her in charge of the border in 2021.
However, Farage predicts Harris will still secure the 2024 nomination without serious challenge, as he “cannot see the Democrat getting rid of a black African woman.”
Harris’s father is a Jamaican economist of African descent, and her late mother was an Indian medical researcher.
ASSASSINATION ATTEMPT.
Farage, who flew out to the Republican National Convention to support Trump after the attempt on his life in Butler, Pennsylvania, also revealed the Trump family is “incandescent with rage” at the security failures that allowed “a man with a rifle [to] get onto a roof 125 yards away” from the former president.
“[W]arnings [went] up from the crowd, from the police, and yet it takes Secret Service so long to act. No, the family were both upset and very, very angry,” he said.
VANCE.
Farage has kind words for Trump‘s running mate, Senator J.D. Vance, describing him as embodying “the American Dream.”
“Growing up in abject poverty, drug addiction, fatherless home, and the guy joins the Marines and does well, goes to law school, goes into private equity. I mean, J.D. Vance is a huge success story,” he said.
“I’ve known Vance for over a decade, and he’s a very, very bright, impressive man.”
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Reform Party leader Nigel Farage believes former President Donald J. Trump will be "delighted" to face Vice President Kamala Harris in November if she secures the Democratic nomination now Joe Biden has bowed out. He has also revealed the Trump family is "incandescent" at the security failures that allowed a gunman to open fire on the former president in Butler, Pennsylvania.
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Britain’s Prime Minister Sir Keir Starmer invited Ukraine’s President Volodymyr Zelensky to a meeting with his Cabinet ministers on Friday, July 19. The meeting followed a forum of European leaders at Blenheim Palace, underscoring Starmer‘s attempt to underline the new Labour government’s commitment to the Ukraine war by inviting Zelensky to address his ministers, the first foreign leader to do so since President Bill Clinton in 1997.
Zelensky’s visit coincides with the launch of a new initiative aimed at disrupting Russia‘s ‘shadow fleet’ of about 600 oil tankers used to circumvent sanctions.
“I won’t allow Russia’s shadow fleet of oil tankers, and the dirty money it generates, to flow freely through European waters and put our security at risk,” Starmer said, adding: “Ukraine is, and always will be, at the heart of my government’s agenda.”
The Defence Export Support Treaty, to be signed by defense ministers, will provide Ukraine access to 3.5 billion pounds ($4.5 billion) in export finance to boost defense production.
Last week at NATO, Starmer reaffirmed a commitment, initiated by his predecessor Rishi Sunak, to provide 3 billion pounds annually in military support to Ukraine until at least 2030-31, and potentially beyond.
Meanwhile, in America, former Conservative prime minister Boris Johnson met with former President Donald J. Trump at the RNC to lobby for more support for Ukraine.
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Britain's Prime Minister Sir Keir Starmer invited Ukraine's President Volodymyr Zelensky to a meeting with his Cabinet ministers on Friday, July 19. The meeting followed a forum of European leaders at Blenheim Palace, underscoring Starmer's attempt to underline the new Labour government's commitment to the Ukraine war by inviting Zelensky to address his ministers, the first foreign leader to do so since President Bill Clinton in 1997.
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Britain’s new Foreign Secretary, David Lammy, is refusing to apologize for calling former President Donald J. Trump a “neo-Nazi sympathizing sociopath” and “tyrant.” He argues, “You’re going to struggle to find any politician who has not had things to say about Donald Trump in his first term, particularly on Twitter.”
Asked if his very public attacks on Trump, now the favorite to win the November presidential elections, will undermine the “special relationship” between Britain and America, the Labour politician told the BBC, “The truth is… Donald Trump has the thickest of skins.”
Lammy then completely reversed his past characterization of Trump, whom he has directly compared to Adolf Hitler, admitting, “There is a lot of rhetoric, but look at the action. He was the first to give Javelins to Ukraine after 2015. He talked about withdrawing from NATO; he actually increased troops to NATO.”
Lammy, who pushed far-left identity politics for years in opposition, has also charged Trump with “grotesque racism” and branded him a “wannabe despot” and a “racist KKK and Nazi sympathizer. ” He derided Trump’s supporters as a “cult of white supremacists.”
As a backbench Member of Parliament (MP), he lobbied against then-President Trump being invited to Britain for a state visit in 2017, arguing the British government should instead “be putting [Trump] on a watch list and barring him from entry to our country” while asking the FBI to investigate him for “inciting hatred” on social media.
Britain's new Foreign Secretary, David Lammy, is refusing to apologize for calling former President Donald J. Trump a "neo-Nazi sympathizing sociopath" and "tyrant." He argues, "You're going to struggle to find any politician who has not had things to say about Donald Trump in his first term, particularly on Twitter."
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Rioters in the Harehills area of the British city of Leeds flipped a police car and set a double-decker bus on fire after a conflict between child protective services and the parents of local children. The disturbance began around 5:00 PM local time on Thursday and continued for hours with police eventually gaining control and making several arrests.
West Yorkshire Police confirmed that multiple individuals have been detained, with further arrests anticipated in the coming days. Tracy Brabin, the region’s mayor, announced that patrols would increase to maintain peace in the area throughout Friday night and the weekend.
Assistant Chief Constable Pat Twiggs stated that officers responded to an address after reports from social workers encountering hostility during a child protection issue involving a Romanian Roma Gypsy heritage family. The parents of the seven children are alleged to have wanted to take them to Romania this Saturday before social services took five of them. Social services also alleged that they were concerned about the welfare of the children after one, a nine-month-old baby, had suffered an injury in April.
Now @WestYorksPolice have been forced to LEAVE once AGAIN as cars burn and missiles are thrown at their vehicles. Lawless Leeds is burning. Britain is falling. pic.twitter.com/k32GUpPfQs
Police were escorting agency workers taking children into protective custody when the situation escalated, prompting a call for additional support from dozens of officers.
Video footage circulating on social media shows large groups rioting and damaging the police vehicle, including throwing objects at it while officers were inside. The riots centered on Luxor Street, next to an area heavily populated by “Asians”—typically people with roots in South Asia (India, Pakistan, and Bangladesh) and the Middle East rather than the Far East, in British parlance.
Several roads were closed, and the public was advised to steer clear of the area.
This viral video is being shared without context by engagement farmers so I did some research.
A migrant community in the Harehills neighborhood of Leeds, England attacked police as revenge for them responding to help child protective workers who came to a home with endangered… pic.twitter.com/n2gt7RHHUG
The rioting comes just months after Muslims in Southall, West London attacked police while celebrating the end of Ramadan, throwing bricks and other objects at officers.
This is like a scene from the Black Lives Matter riots. The electric bus is at real risk of exploding and taking the buildings next to it with it. Britain is not meant to be a third world country.@WestYorksPolice still evacuated from Harehills. pic.twitter.com/S3Dp2kHZE6
Rioters in the Harehills area of the British city of Leeds flipped a police car and set a double-decker bus on fire after a conflict between child protective services and the parents of local children. The disturbance began around 5:00 PM local time on Thursday and continued for hours with police eventually gaining control and making several arrests.
England’s Wandsworth Council has discovered a significant error in the election results for the Putney constituency (electoral district), revealing that 6,558 votes were initially missed on election day, amounting to approximately 15 percent of the original turnout. Despite the error, the outcome of the election remains unchanged, confirming Labour‘s Fleur Anderson as the MP for Putney, a position she has held since 2019.
Due to the reissue of results, candidates across parties saw their vote counts increase by 13 to 17 percent.
The Conservative Party has raised concerns about the competence of the election team, particularly since the parliamentary election count was overseen by a new Labour administration. Wandsworth Council had been controlled by the Conservatives from 1978 to 2022.
Peter Graham, a Tory councilor (councilman), voiced strong concerns over the handling of the situation, stating, “It’s extremely concerning that the Council knew the official declaration was wrong, failed to tell anyone, and then concealed a correction on its website.”
The incident has sparked broader concerns about other constituencies where narrow majorities could potentially have been affected by errors. Several races in Britain’s July 4 snap election were decided by thin margins.
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England's Wandsworth Council has discovered a significant error in the election results for the Putney constituency (electoral district), revealing that 6,558 votes were initially missed on election day, amounting to approximately 15 percent of the original turnout. Despite the error, the outcome of the election remains unchanged, confirming Labour's Fleur Anderson as the MP for Putney, a position she has held since 2019.
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Britain’s new Labourgovernment promised to focus on infrastructure, housing, and transport investment to stimulate the country’s economy but has admitted it may take more than a year to see any results. Labour Party leaders made the concession during the King‘s Speech opening Parliament on Wednesday.
A notable centerpiece of the announced legislation is the promotion of “economic stability.” The proposed “Budget Responsibility Bill” mandates that decisions align with the judgments of the Office for Budget Responsibility (OBR), an unelected deep state body tasked with producing financial forecasts. Under these reforms, the OBR’s role in evaluating policy affordability and its potential impact on growth is significantly reinforced. This grants the OBR unprecedented influence over governmental policy decisions.
A crucial moment will come this summer when the OBR assesses whether Labour reforms will bolster economic growth. Depending on the OBR’s findings, there may be less pressure to implement spending cuts or tax hikes. Conversely, if the reforms are deemed insufficient, the government may face tough decisions in the upcoming Autumn Budget and Spending Review.
Prior to the King’s Speech on Wednesday, Labour announced it would scrap the Rwanda deportation scheme, which would have allowed the country to transfer boat migrants claiming asylum to the African country.
Prime Minister Sir Keir Starmer’s government has also stated it will release tens of thousands of prisoners early to relieve prison overcrowding.
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Britain's new Labour government promised to focus on infrastructure, housing, and transport investment to stimulate the country's economy but has admitted it may take more than a year to see any results. Labour Party leaders made the concession during the King's Speech opening Parliament on Wednesday.
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Former British prime minister Boris Johnson met with former President Donald J. Trump on Tuesday and lobbied him to prolong the Ukraine war. Johnson posted a picture of his meeting with the America First leader shortly after delivering a speech to a nearly empty room at the Republican National Convention (RNC).
Johnson said President Trump was on “top form” following the failed assassination attempt against him in Pennsylvania, writing on X (formerly Twitter), “We discussed Ukraine, and I have no doubt that he will be strong and decisive in supporting that country and defending democracy.”
It is a marked change of attitude from the supposedly right-wing Briton, whosaid “America is unreservedly back as the leader of the free world and that is a fantastic thing” after Biden replaced Trump.
Prior to Trump’s victory in the 2016 election, Johnson joined much of the political establishment in trashing then-candidate Trump as “unfit to hold the office of President of the United States.”
🚨 NEW: Boris Johnson speaking to a near-empty room at the Republican National Convention
Since resigning as Prime Minister in 2022, Johnson has become a lobbyist for Ukraine and war with Russia. In September of last year, Johnson begged Trump not to withdraw support.
Reports indicate Johnson personally sabotaged a peace deal between Ukraine and Russia in the early stages of the war in 2022. Naftali Bennett, the Prime Minister of Israel at the start of the conflict, has revealed he helped to negotiate a ceasefire, but NATO powers including the U.S. and Britain where Johnson was then still Prime Minister, “blocked it.”
Russia’s President Vladimir Putin later confirmed this during an interview with Tucker Carlson earlier this year, saying a negotiated peace agreement had been made in Istanbul, Turkey, but Johnson dissuaded Volodymyr Zelensky from signing.
Following the interview, Johnson pilloried Carlson, calling him a tool of the Kremlin. Carlson said he reached out to interview Johnson, but the former prime minister demanded a million dollars to appear.
In May, footage emerged of Johnson praising Ukraine’s neo-Nazi Azov Brigade at a private London club.
Former British prime minister Boris Johnson met with former President Donald J. Trump on Tuesday and lobbied him to prolong the Ukraine war. Johnson posted a picture of his meeting with the America First leader shortly after delivering a speech to a nearly empty room at the Republican National Convention (RNC).
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