Millionaire Flight Narrative

Offshore Tax with HTJ.tax · Oct 4, 2025 · 14m

In 2024, headlines screamed of a millionaire “exodus” from the UK and other countries—10,900+ news pieces carried the story. The supposed flight of the rich was even credited with pressuring the UK Labour government to soften tax reform plans.But here’s the catch: the narrative rests almost entirely on a single report from Henley & Partners, a firm that sells residence-by-investment schemes.A review by the Tax Justice Network, with Patriotic Millionaires UK and Tax Justice UK, shows the numbers don’t stack up:The 9,500 millionaires said to have left the UK in 2024? That’s just 0.3% of…