Wealthy Britons considering relocation

Some 19 percent of people with savings and investments worth more than £250,000 are considering moving overseas, up from 17 percent six months ago and 14 percent a year ago, Lloyds TSB International Wealth said.

The new figure suggests that more than half a million people with that level of personal wealth may leave the UK in the next two years.

Investing in better infrastructure is seen as the most important way to make the UK a more attractive place to live, with 61% of wealthy people choosing this option, Lloyds said.

But cutting regulatory red tape for businesses, lowering taxes and improving public services such as healthcare, education and the police were all high on the agenda.

Nicholas Boys Smith, director at Lloyds TSB International Wealth, said the number of people expected to leave the UK includes a “large number of successful, affluent individuals who play an important role in powering the UK economy”.

“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”, he said.

Crime and anti-social behaviour is the most popular reason for people to contemplate leaving the UK, chosen by 56 percent of those considering leaving in the next two years.

Some 42 percent of wealthy Britons think the UK offers a worse quality of life than other developed countries, while 41 percent thinking life in Britain is generally more stressful than life overseas.

MOL/HE

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