Britain top-elite and their corporations are preparing to leave the United Kingdom should Jeremy Corbyn enter Downing Street 10.

Bracing for what some called “Corbygeddon,” billionaires and multi-millionaires are ready to shift their businesses overseas to avoid a tax raid on their profits and finances.

According to Sunday Times Rich List, the exodus may take up to £1 trillion (US $1.3 trillion) of capital from the UK.

Some of the wealthiest people in Britain have more concerns over Corbyn taking power and potential tax increases than they do Brexit.

The boss of Coutts, the Queen’s bank, revealed he was helping clients to move their money out of the UK.

Tax expert Brian White told the newspaper that his business exports people out of the UK at a fast rate.

Over the past year, he has assisted 10 people with net worth more than £500 million ($649 billion), the total of more than £5 billion ($6.4 billion), in leaving the country.

Alfie Best, who sits on the 450th place among the UK’s richest 1,000, won’t risk his personal wealth and would prefer to move money abroad if Corbyn becomes prime minister in London.

The millionaire said that he would rather develop his business of luxury mobile home parks in the USA and the sunny Caribbean, but it would mean that he gives fewer jobs to the British.

The 2019 Rich List, led by London-based brothers Sri and Gopi Hinduja with a net worth of £1.356 billion ($1.762 billion), showed that the wealthiest people and families are sitting on record wealth of £771.3 billion ($1 trillion).

The top 10 included three Russian businessmen, billionaire Alisher Usmanov, Chelsea’s owner Roman Abramovich and the founder of one of Russia’s biggest banks, Mikhail Fridman, who is a newcomer for the list.

Jeremy Corbyn’s party led a ComRes poll on Saturday, which put Labour on 27%, followed by the Brexit Party on 20% followed by the Conservatives close behind on 19%.

If elected, apart from recently touted universal basic income, Labor also plans to ask the top 5% of earners to contribute more in tax to help fund public services, while leaving tax rates for others untouched.

Not content with stealing from those who actually create wealth in the UK workers in offices, shops and factories, they now want to protect themselves from making a contribution to the health, education and general wellbeing of their victims?

Capitalism is nothing more than legalized theft, on the back of the hard working slaves?

RT. com / ABC Flash Point Royal Business News 2019.

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23-11-20 12:39

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