{"id":147809,"date":"2019-05-16T10:15:47","date_gmt":"2019-05-16T14:15:47","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=147809"},"modified":"2019-05-16T09:29:54","modified_gmt":"2019-05-16T13:29:54","slug":"britains-rich-mull-moving-their-wealth-abroad-over-corbyn-fears","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/05\/britains-rich-mull-moving-their-wealth-abroad-over-corbyn-fears\/","title":{"rendered":"Britain\u2019s rich mull moving their wealth abroad over Corbyn fears"},"content":{"rendered":"
May 16, 2019<\/div>
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By George Prior<\/strong><\/p>\n

Rich Brits and wealthy international investors fear a Jeremy Corbyn-led government more than Brexit, with an increasing number considering moving their wealth overseas.<\/p>\n

This is the assessment of Nigel Green, founder and CEO of deVere Group, one of the world\u2019s largest independent financial advisory organizations with more than $12bn under advisement.<\/p>\n

Mr Green says: \u201cSince the beginning of the year a large and growing number of clients are telling our advisers that for their wealth they fear the damaging impact of a Jeremy Corbyn-led government more than Brexit.<\/p>\n

\u201cPolls suggest that the ruling Conservative party, led by Theresa May, is haemorrhaging support due to the ongoing Brexit chaos and deadlock.\u00a0 This drives up the possibility of another general election in the UK before 2022 and that opposition party Labour, with Mr Corbyn at the helm, could sweep into power.\u201d<\/p>\n

He continues: \u201cHigh-net-worth individuals in Britain and wealthy international investors with UK assets and business know that they will be hit by Mr Corbyn\u2019s tax hikes on wealth, income and inheritance.<\/p>

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\u201cAs such, more and more of them are seeking advice on established, legitimate overseas opportunities to create, build, and importantly, protect their wealth.\u201d<\/p>\n

Mr Green adds: \u201cLumping more tax on the rich doesn\u2019t work because these people, typically, have the resources to move to lower tax jurisdictions if the tax burden in the UK becomes too great.\u00a0 They are internationally mobile.<\/p>\n

\u201cShould they emigrate – and according to our recent conversations\u00a0a high number very well could – government finances will suffer considerably because they contribute a disproportionately large amount to the state\u2019s coffers. They prop-up \u2018the System.\u2019\u00a0 In addition, these individuals are usually wealth and job creators.\u201d<\/p>\n

The deVere CEO continues: \u201cShould the Brexit turmoil continue and the Conservatives keep losing ground to Corbyn\u2019s Labour, it can be reasonably expected that a considerable amount of our clients will move their assets outside of the UK within the next few months.\u201d<\/p>\n

About:<\/strong><\/em><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior Rich Brits and wealthy international investors fear a Jeremy Corbyn-led government more than Brexit, with an increasing number considering moving their wealth overseas. This is the assessment of Nigel Green, founder and CEO of deVere Group, one of the world\u2019s largest independent financial advisory organizations with more than $12bn under advisement. Mr […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-147809","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147809","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=147809"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147809\/revisions"}],"predecessor-version":[{"id":147810,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147809\/revisions\/147810"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=147809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=147809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=147809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}