Steven

The top 1% of income taxpayers in the UK are projected to contribute about 30% of total income tax from 2024 to 2025. Why are all these millionaires running away?

The top 1% of income taxpayers in the UK are projected to contribute about 30% of total income tax from 2024 to 2025. Why are all these millionaires running away?

Well, it's not because they're taxing their wealth, because we don't have any wealth taxes. Why do you think they're leaving? I think the reason they're leaving is because the UK economy is really, really weak. Because the UK consumer is really, really weak. Because you've absolutely crushed the spending power of your average British family.

Well, it's not because they're taxing their wealth, because we don't have any wealth taxes. Why do you think they're leaving? I think the reason they're leaving is because the UK economy is really, really weak. Because the UK consumer is really, really weak. Because you've absolutely crushed the spending power of your average British family.

The average British family can barely afford to feed the kids and turn the heating on. So why are you going to start a business here when the customers are absolutely impoverished?

The average British family can barely afford to feed the kids and turn the heating on. So why are you going to start a business here when the customers are absolutely impoverished?

So the reason they left is because we used to allow them to not pay tax.

So the reason they left is because we used to allow them to not pay tax.

So isn't it a bit more like if we were 10 of us at dinner and there was one guy who came to dinner on the condition he wouldn't pay their leaves? Because these guys weren't paying tax anyway. If the reason they left is because they weren't paying tax.

So isn't it a bit more like if we were 10 of us at dinner and there was one guy who came to dinner on the condition he wouldn't pay their leaves? Because these guys weren't paying tax anyway. If the reason they left is because they weren't paying tax.

These guys were here on a condition. You yourself said the reason why they left is because we let them live here on the condition that they didn't have to pay taxes.

These guys were here on a condition. You yourself said the reason why they left is because we let them live here on the condition that they didn't have to pay taxes.

These guys, they live in Dubai. Their money comes from the West. They are making money from the West while your average Western ordinary person watching this show now cannot afford to buy a house, cannot afford to have a family. We can tax those revenues at the point of sale.

These guys, they live in Dubai. Their money comes from the West. They are making money from the West while your average Western ordinary person watching this show now cannot afford to buy a house, cannot afford to have a family. We can tax those revenues at the point of sale.

Yeah, based on the profits. You look at how much profit they have.

Yeah, based on the profits. You look at how much profit they have.

Go on. Listen, these guys are not Gandalf. You just say we don't accept profit shifting. We don't need to accept profit shifting. China does not accept profit shifting. We did not accept profit shifting 50 years ago. We do not have to accept profit shifting.

Go on. Listen, these guys are not Gandalf. You just say we don't accept profit shifting. We don't need to accept profit shifting. China does not accept profit shifting. We did not accept profit shifting 50 years ago. We do not have to accept profit shifting.

But you have a government class who are extremely wealthy and a media class who are extremely wealthy saying it's impossible to tax rich people. And I would like to say, I will agree 100%. It is difficult to tax rich people. It is very, very, very difficult to tax rich people. I don't come here saying I want to tax rich people because it's easy. I know it's hard. I know probably I'm going to lose.

But you have a government class who are extremely wealthy and a media class who are extremely wealthy saying it's impossible to tax rich people. And I would like to say, I will agree 100%. It is difficult to tax rich people. It is very, very, very difficult to tax rich people. I don't come here saying I want to tax rich people because it's easy. I know it's hard. I know probably I'm going to lose.