Affluent Brits considering moving overseas en masse

14th May 2012

A poll has suggested that more UK citizens are considering moving overseas because of tax, red tape and a lack of investment in the UK.

It could spell good times ahead for international removals companies with the Lloyds TSB International Wealth poll suggesting wealthy people in the UK are considering a move abroad.

The survey found that 19 per cent of wealthy people in the UK are currently considering moving abroad at some point in the next two years. This is up from 17 per cent six months ago and 14 per cent a year ago.

It all means that around half a million people, 544,000 to be precise, could be on the move, along with over £250,000 of savings and investments in total (excluding property).

Nicholas Boys Smith, director at Lloyds TSB International Wealth, said: "Our research suggests the number of wealthy people leaving the UK is set to increase in the next two years.

"This includes the large number of successful, affluent individuals who play an important role in powering the UK economy."

A perceived lack of investment in better infrastructure was cited as the most important way to make the UK a better place to live, 61 per cent of respondents chose this option.

Just less than half, 49 per cent, wanted to see the levels of red tape for businesses cut while 45 per cent wanted lower taxes and 44 per cent felt that improving public services like healthcare, education and the police were crucial.

Mr Boys Smith added: "While the figures strongly suggest we won’t see a mass exodus, it is clear that a significant and growing minority see opportunity and a better quality of life overseas."

Levels of crime and anti-social behaviour were found to be the most popular reason behind people contemplating a move overseas.

The study showed that 41 per cent of people felt life in Britain was generally more stressful than life abroad while 43 per cent of affluent individuals think Britons are generally unhappier than those abroad.

 

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