The majority of high -value individuals (HNWIS) who support the Labor Party in the recent elections are now regretted that confidence in the UK economy, according to a new survey.
The poll, conducted by the director of wealth, found that two -thirds of the wealthy voters who supported the Sir Kerr Starmer party in July are not now wished. The main policies include confidence that includes confidence in the inheritance tax, the introduction of VAT by 20 % on private school fees, and the increase in national insurance contributions to employers, which sparked employment costs for business owners.
The survey, which included 2000 individuals with at least 250,000 pounds in the investment assets, found that confidence in the British economy between this group had decreased sharply from 84 % in August – a month after the Labor Party's victory – to only 48 % today , Which represents the lowest level in the record.
Mike Stempson, a partner in Sultos, described the shift as a “lost opportunity” to work. He said: “Confidence is a decisive element in growth, and the fact that this group of vital importance – creators wealth, employers and investors in tomorrow's business – feel that the UK economy is not on the right track is a reason for the concern.”
The Labor Party worked hard to prepare wealthy donors during the election campaign, pledging not to raise the main taxes while placing itself as the “Wealth Creation Party”. This strategy has resulted, as it attracts great financial support, including a 4.5 million pounds donation from Gary Lubner, former CEO of Autoglass.
Ultimately, more than a third of Hnwis voted in the UK in the end, but analysts now describe this as a “protest vote” against the conservatives, whose reputation among the wealthy was severely damaged by Liz Trex's mini budget.
Since he took office, Chancellor Rachel Reeves has made tax increases, which has increased confidence among wealthy individuals. The October budget raised taxes with a record amount, with fears that more increases on the road. More than 80 % of those surveyed expect that the government will raise capital profit tax, income tax and inheritance tax during the next year.
As a result, one in ten HNWIS thinks about leaving the UK permanently. According to the Adam Smith Institute, Britain lost 10800 million transportation abroad in 2024 – more than twice the number in 2023.
Among the prominent departures is Charlie Moulins, the founder of Pimlico Plumbers, who moved to Spain “once the Labor Party won the elections.” Wealth has already forced a shift in politics, as the government has retracted the proposed tightening of the non -periodic tax system. Reeves recently announced measures to facilitate the absence of money without travel to the United Kingdom, while admitting the need to maintain wealth and investment.
Speaking at the World Economic Forum in Davos, Reeves said: “We are always interested in hearing ideas to make our tax system more attractive to talented businessmen and business leaders from all over the world to help create jobs and wealth in the UK.”
The departure of wealthy individuals can have great economic consequences. The highest 1 % of the surfers contribute approximately 30 % of the income tax, which means that the continuous flow of HNWIS will put additional pressure on public financial affairs.
However, not all supporters of the wealthy work are disappointed. The Green Energy Dale Vince, who donated 5 million pounds to the party, remains a strong supporter. In October, those who threaten to leave the country were refused because of the high taxes, saying they should “stop the operation.”
A Treasury spokesman defended the government's approach, saying: “In the budget, we took the difficult decisions required for taxes to reform institutions and increase investment in public services and economics, to rebuild Britain and open long -term growth.”
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