Starmer’s ‘rich tax’ panic: Lakshmi Mittal joins billionaire exodus as UK’s tax crackdown begins ?

Just days before the UK budget, steel tycoon Lakshmi Mittal, worth £15.4 billion, is set to leave London after nearly 30 years. His decision follows Labour’s new tax reforms targeting the ultra-wealthy, including higher capital gains tax, reduced entrepreneur relief, and inheritance tax concerns. Mittal joins a growing list of high-profile departures, including tech entrepreneurs, sports stars, and business magnates, moving to Dubai, Switzerland, and other tax-friendly countries. This exodus raises questions about the UK’s ability to retain long-term wealth and investment. We break down why the super-rich are leaving and what it means for the UK economy.