Britain’s Economic Crisis

A recent Sydney Morning Herald article discusses research from Lloyds TSB International Wealth showed 19% of wealthy Britons were thinking of moving to Australia, the United States, New Zealand and Canada or to the euro zone countries like France and Spain.

  • One in five Britons with more than 250,000GBP in savings are thinking about this
  • Main reasons; tired of crime, poor weather and high cost of living
  • Government trying to preserve image as a safe-haven for the international rich while increasing taxes and slashing public spending
  • About half a million people in Britain have more than 250,000 pounds in savings or investments that exclude property.

Lloyds TSB International Wealth Director Nicholas Boys Smith, who oversaw the report, said in a statement.
“Our research suggests the number of wealthy people leaving the UK is set to increase in the next two years,” he said.
“Clearly there’s a growing minority that is worried about the outlook; infrastructure, crime, anti-social behavior, tax, red tape and do believe that there are better options abroad,” Boys Smith told Reuters.

With Australia’s business skills migration policy being amended on 1 July 2012 by the Department of Immigration and Citizenship (DIAC) we may see some of the high worth Britons looking to make Australia home as business owners or investors?

Contact our team today to discuss your migration options to Australia.

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