Chancellor risks ruining hopes of growth amid looming exodus of wealthy, experts warn

Wealthy individuals and entrepreneurs are already fleeing Britain as fears grow over a raft of tax rises in Rachel Reeves’s first Budget.

An exodus is being reported by bankers, financial advisers and business chiefs with experts warning that the Chancellor risks ruining hopes of faster economic growth with a widely expected increase in capital gains tax (CGT).

It comes after Sir Keir Starmer warned last week that those with the “broadest shoulders” would carry the burden of fixing Britain’s ailing public finances.

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