The Story Britain's richest people - and why they're furious
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May 18, 2025 Robert Watts, compiler of The Sunday Times Rich List, discusses the challenges of ranking Britain's wealthiest due to turbulent political climates, particularly Trump's tariffs. He reveals that the top 1% are increasingly frustrated with potential tax reforms, like the abolition of non-dom status, sparking fears of emigration among the elite. Watts also highlights unique stories from the Rich List, including a hotelier who built a business around asylum seekers, showcasing the complex interplay between wealth, societal perceptions, and government policies.
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Billionaire Gains from Asylum Housing
- Graham King transformed from managing caravan parks to leading a billion-pound asylum seeker housing business.
- His company profits from taxpayer money, raising questions about government outsourcing and accountability.
Rich Angry Over UK Tax Changes
- Tax changes in the UK have angered the super rich far more than Trump's tariffs.
- Ending non-dom status and new inheritance tax reforms threaten family businesses and wealth retention.
Young Entrepreneurs Fear Tax Impact
- Young British entrepreneurs dislike rising capital gains and entrepreneur relief tax increases.
- These tax changes reduce incentives to build businesses in the UK, risking a talent exodus.