Riots push more to leave the UK
Source: Agencies |
October 11, 2011, Tuesday
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Print Edition
Print Edition
RIOTING in England over the summer has contributed to an increase in the number of wealthy people who are considering leaving the UK, a survey found yesterday.
According to the survey of 1,057 people, 17 percent of those with more than 250,000 pounds (US$390,424) of savings and investments wanted to move overseas, up from 14 percent six months ago.
Most of those actively considering an overseas move said crime and antisocial behavior were the key reasons, reflecting concerns caused by riots in London and other major cities in August.
Nicholas Boys Smith, managing director of Lloyds TSB International Wealth, which conducted the survey, said: "It seems August's riots, tax increases and a rising cost of living have cast a pall over life in the UK.
"It may reignite fears of a 'wealth drain' from our economy as rich people seek pastures new."
The August riots, which led to several deaths, were sparked after police in London shot dead a suspected criminal, who was said by his family to be innocent.
Violence broke out in the UK capital and spread to other cities, with widespread damage as shops were burned and looted.
According to the survey of 1,057 people, 17 percent of those with more than 250,000 pounds (US$390,424) of savings and investments wanted to move overseas, up from 14 percent six months ago.
Most of those actively considering an overseas move said crime and antisocial behavior were the key reasons, reflecting concerns caused by riots in London and other major cities in August.
Nicholas Boys Smith, managing director of Lloyds TSB International Wealth, which conducted the survey, said: "It seems August's riots, tax increases and a rising cost of living have cast a pall over life in the UK.
"It may reignite fears of a 'wealth drain' from our economy as rich people seek pastures new."
The August riots, which led to several deaths, were sparked after police in London shot dead a suspected criminal, who was said by his family to be innocent.
Violence broke out in the UK capital and spread to other cities, with widespread damage as shops were burned and looted.
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