Steel billionaire latest to leave UK ahead of proposed tax squeeze on the ultra-rich

Contributing sentiments towards policy:

55% : Billionaire Lakshmi Mittal has reportedly shifted his tax residence to Switzerland after nearly thirty years in the UK, becoming the latest ultra-wealthy individual to head for friendlier fiscal terrain ahead of Rachel Reeves's budget.
53% : Speculation about what comes next - including talk of a potential 20 per cent levy on those who relocate abroad - has only heightened the tense atmosphere in the days leading up to the budget.
51% : The chancellor is expected to unveil another round of tax increases for high earners on Wednesday as she seeks to plug a £20bn gap in the public finances.
50% : Ms Reeves's overhaul of the non-domiciled tax regime - once a key draw for internationally mobile wealth - has already unsettled high earners, and rumours earlier this year that she was exploring a 20 per cent "exit tax" sparked concern over an investor exodus before the idea was shelved, according to The Telegraph.
49% : Her budget last October already unsettled affluent households, raising capital gains tax and scaling back reliefs available to entrepreneurs when selling their businesses.
49% : The Sunday Times first reported in March that he was preparing to leave the UK as Labour moved to end the non-dom system, which allowed residents with foreign domiciles to shield overseas income and capital gains from UK tax.
46% : "It wasn't the tax on income [or capital gains] that was the issue," an adviser familiar with the Mittals' move was quoted as saying by The Sunday Times.
46% : Ms Reeves is preparing to outline a budget that could include a series of tax rises aimed at plugging fiscal holes and, she says, revitalising a faltering economy.
43% : Many wealthy people from overseas cannot understand why all of their assets, wherever they are in the world, should be subject to inheritance tax imposed by the UK Treasury.
40% : "The issue was inheritance tax.

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