Steven

And I think we should be looking at reducing taxes on people who work and make money. This is what I've been saying for the whole time.

Yeah, we should reduce their taxes on the income that they make. But then if they start owning a £50 million company... Are you telling me, if you come to me and I say, all right, you want to start a company, we tax you very, very little on a company that you start. If that company becomes worth 20, 30, 40 million quid, then we're going to start taxing you.

Yeah, we should reduce their taxes on the income that they make. But then if they start owning a £50 million company... Are you telling me, if you come to me and I say, all right, you want to start a company, we tax you very, very little on a company that you start. If that company becomes worth 20, 30, 40 million quid, then we're going to start taxing you.

You're going to come and say to me, oh, no, sorry, 50 million is not enough for me.

You're going to come and say to me, oh, no, sorry, 50 million is not enough for me.

So can I ask a question on that? So my company was valued at 50, whatever, 100 millions. Congratulations. And I still had... Because I hadn't had an exit event, I still had £10,000, £20,000 in my bank account. Are you saying at the point when I sell the company, or are you saying just because I have shares in the company?

So can I ask a question on that? So my company was valued at 50, whatever, 100 millions. Congratulations. And I still had... Because I hadn't had an exit event, I still had £10,000, £20,000 in my bank account. Are you saying at the point when I sell the company, or are you saying just because I have shares in the company?

I think you can structure it a number of ways. You can structure it a number of ways. My preferred way is to stop people from hoarding enormous amounts of wealth for enormous amounts of time. That's basically my preferred method. There's also the wealth tax method. There's also capital gains as a method. There's a lot of different ways here. There's a lot of different ways here.

I think you can structure it a number of ways. You can structure it a number of ways. My preferred way is to stop people from hoarding enormous amounts of wealth for enormous amounts of time. That's basically my preferred method. There's also the wealth tax method. There's also capital gains as a method. There's a lot of different ways here. There's a lot of different ways here.

But you have to deal with the problem of if you do not tax very wealthy individuals and very wealthy families, their share of the pie will obviously grow over time and they will and they are, as we are watching, squeezing out ordinary families.

But you have to deal with the problem of if you do not tax very wealthy individuals and very wealthy families, their share of the pie will obviously grow over time and they will and they are, as we are watching, squeezing out ordinary families.

You have to deal with that. My friend sold his company in the UK. It's a company everybody knows. And he, I remember him saying to me at the time, it was in the middle of a pandemic. He'd got this big exit event. I think he'd made 300 million. And he goes, I'm off. I go, where are you going? He goes, I'm going to go to Dubai and Monaco and live between the two.

You have to deal with that. My friend sold his company in the UK. It's a company everybody knows. And he, I remember him saying to me at the time, it was in the middle of a pandemic. He'd got this big exit event. I think he'd made 300 million. And he goes, I'm off. I go, where are you going? He goes, I'm going to go to Dubai and Monaco and live between the two.

And I said to him, explain to me why. He goes, well, the amount of tax I'd have to pay in the UK is equivalent to me paying 20 million rent in the UK for the next six or seven years, which you'd have to stay here for. So he went and he pops back in every now and then. But it meant that he could keep that 150 million, whatever tax he would pay, never had to pay it to the UK.

And I said to him, explain to me why. He goes, well, the amount of tax I'd have to pay in the UK is equivalent to me paying 20 million rent in the UK for the next six or seven years, which you'd have to stay here for. So he went and he pops back in every now and then. But it meant that he could keep that 150 million, whatever tax he would pay, never had to pay it to the UK.

He's living this high-flying life now in Dubai, drops into Monaco every now and then. And I remember him saying to me, well, Steve, I'd have to pay 20 million rent a year to live here. And he went on to say, the UK product just isn't worth it. He goes, I'm going to get my Rolex robbed off me. He goes, the healthcare system isn't the best. The education system isn't necessarily the best.

He's living this high-flying life now in Dubai, drops into Monaco every now and then. And I remember him saying to me, well, Steve, I'd have to pay 20 million rent a year to live here. And he went on to say, the UK product just isn't worth it. He goes, I'm going to get my Rolex robbed off me. He goes, the healthcare system isn't the best. The education system isn't necessarily the best.

And the particular one was crime. which is I'll get mugged walking through London streets.

And the particular one was crime. which is I'll get mugged walking through London streets.

Stephen, if you allow British people who own £300 million of British assets to technically live in Monaco and not pay tax, then you will get crime and you will have dirty streets and you will have a bad healthcare system and you will have education.