All So Obvious — UK Brain Drain and Taxes

Back in April I blogged on what the consequences of Britain’s tax hikes would be: businesses packing up and leaving. Today a survey published in the Daily Telegraph suggests that hundreds of businesses are thinking about exiting and setting up overseas, and one-in-five entrepreneurs say they would not consider starting up in the UK again.

When will politicians learn that we live in a wired world and that tax competition strengthens the link between diminishing returns and high taxes. Meanwhile, Britain pours out money for military adventurism abroad — Iraq and Afghanistan — and is planning to spend billions on an updated nuclear weapon — all to prove Britain still rules the waves. And we lecture Putin that national greatness should not nowadays be equated with military greatness.

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