Britain's billionaire exodus shows cost of tax raid

Economic Impact of Non-Dom Regime Change - The UK economy could potentially lose up to 122 billion (12.2% billion) pounds by the end of the parliament if half of all non-doms keeping their overseas earnings outside the scope of UK tax decide to leave [3] - Over the next decade, the policy could cost 111 billion pounds and 44000 (44 thousand) jobs [4] - The Labour government anticipates that the non-dom reforms will generate over 30 billion pounds in the coming years [4] Non-Dom Resident Dynamics - The UK's non-dom regime was scrapped in April, leading many wealthy residents to consider living elsewhere [1] - Before the change, there were approximately 74000 (74 thousand) non-doms in the UK [2] - Estimates suggest that at least 10% of non-doms have already left the UK since the Labour Party came to power [2] Destination Preferences - Bloomberg's analysis indicates that the United Arab Emirates, a mostly tax-free destination, is the top choice for departing non-doms [5] - Italy is emerging as a significant hub for private equity executives [5]