Three notes after reading, the first one being glaringly disingenuous and weird:

> The Tax Justice Network’s review – co-published with Patriotic Millionaires UK and Tax Justice UK – of the Henley report finds that the number of millionaires claimed by Henley & Partners to be leaving countries in “exodus” in 2024 represented near-0% of those countries’ millionaire populations. For example, the 9500 millionaires widely reported to be leaving the UK in 2024 represented 0.3% of the UK’s 3.06 million millionaires.

#1: The data is completely arbitrary, incorrectly compared, and adds no new insights.

The tax changes, AFAIK, are specifically aimed at generating more tax revenue from the foreign millionaires who have been using the UK's non-dom tax advantages, by getting rid of that status.

The counter rhetoric was "if even a fraction of those millionaires leave, the UK will actually lose tax revenue instead."

This article does not report on any actual adjusted numbers to the 9500 millionaires reported leaving, it just says "guys we have a lot more millionaires" — vast majority of whom are not foreign / dom-status, and therefore will not be affected anyways. No new tax revenue from them by eliminating non-dom status. It's apples-to-oranges.

Basically, they're not even using the correct denominator (foreign millionaires).

#2: This was written by an organization seeking to end tax havens, which doesn't really acknowledge that, while calling out the bias of the original report by the organization that helps secure golden visas.

#3: "credited for the UK Labour government’s decision to weaken tax reforms" — it sounds like the original government decision wasn't even passed, though I'm not sure about this, it would mean that you can't say "X didn't cause Y as was predicted" when X didn't actually occur in full.

If you are going to quote half the article (that I've just read) to make your point, I'm definitely not going to make it to the end of your comment.

I don't need to read it again, thank you.