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More wealthy people considering leaving Britain

News18test sharma |

Updated: October 16, 2011, 10:39 PM IST
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More wealthy people considering leaving Britain
Rioting in England has contributed to an increase in the number of wealthy people considering leaving Britain.

London: Rioting in England over the summer has contributed to an increase in the number of wealthy people considering leaving Britain, a Lloyds TSB International Wealth survey said.

The survey of 1,057 people said 17 per cent of those with more than 250,000 pounds (USD 390,424) of savings and investments wanted to move overseas in the next two years, up from 14 percent six months ago.

Sixty-one percent of those actively considering an overseas move said crime and antisocial behaviour was the key reason to leave. This was up from 43 per cent and reflected concerns caused by riots in London and other major cities in August.

"Sadly it seems August's riots, tax increases and a rising cost of living have cast a pall over life in the UK for some wealthy people," Nicholas Boys Smith, Managing Director of Lloyds TSB International Wealth, said in a statement.

"It may re-ignite fears of a 'wealth drain' from our economy as rich people seek pastures new," he added.

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 have been innocent.

Violence broke out in several districts of the British capital and then spread to other cities, with widespread damage as shops were burnt and looted.

First Published: October 16, 2011, 10:39 PM IST
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