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Millionaires 'leaving the UK' is a false narrative - it's time to introduce a wealth tax

The exodus of the rich, already purported to be in action, hasn’t occurred. Plus: Zoë Grünewald on Lucy Powell as Labour's beacon of hope.

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The Lead and Hannah Fearn
Oct 28, 2025
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a building with many windows
The number of millionaires is rising – largely thanks to a boom in housing wealth. Pic: Unsplash

Another week, another cabinet split between those in government committed to the manifesto it was elected upon and those to the right of the party determined to chase Reform into their own oblivion.

This time, the subject of the division is wealth taxation.

Wi…

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A guest post by
Hannah Fearn
Hannah Fearn is a freelance journalist specialising in social affairs. She is the former opinion editor of The Independent and is based in South London.
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