Think-tanks propose tax incentives for investors

Research by Onward and the Adam Smith Institutes shows that around 67% of the British public would support a policy offering wealthy investors tax incentives to stop them leaving the UK. The think-tanks have designed a plan to offer 15-year exemptions from foreign income, capital gains and global inheritance taxes to investors in UK growth sectors. The scheme would see the high-net-worth individuals provide £300,000 in annual contributions to the state. They would also be mandated to make a minimum £3m in a high-growth sector and take up private healthcare, schooling and insurance. Onward director Simon Clarke, a former Treasury Secretary, argued that it is “crazy” for the Government to drive wealthy people out of the country following the end of the non-dom regime. He said: “At a time of global tax competition and low growth, Britain cannot afford to get this wrong.”