Britain One of the Worst Wealth Losers Among Major Economies Under Reeves – Guido Fawkes

Britain One of the Worst Wealth Losers Among Major Economies Under Reeves

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Britain saw one of the steepest drops in household wealth among major economies in 2024, with only crisis-hit Turkey posting a worse performance, according to UBS’s latest closely-watched annual Wealth Report. Are you surprised?

Figures show average wealth in the UK fell by 3.6% in 2024 – a sharp reversal from the steady growth of over 6% seen at the start of the decade. Those 11,000 millionaires fleeing high-tax Britain last year won’t have helped…

The United States, meanwhile, added on average 1,000 millionaires per day last year. UBS’s UK wealth management chief, Michel Frey said:

“Average real-term wealth per adult in the United Kingdom fell in 2024 because living-cost pressures and rising interest rates moved faster than either house prices or most financial markets. Naturally, this dented people’s ability to build or retain wealth.”

Wealth taxes now?