A multi-billionaire, who founded mobile phone company Phones4U, says he’d move to Monaco if Labour leader Jeremy Corbyn ever becomes UK prime minister, to avoid being “raped” by tax increases.
In an interview with Spear’s, a lifestyle magazine for the “ultra-high-net-worth community,” John Caudwell insisted he was not afraid of paying his “fair share” of tax, but that a Corbyn government would be a step too far.
Caudwell, who has a net-worth of $2.4bn, according to Forbes magazine, would move with his family to income-tax-free Monaco, if Corbyn hiked up taxes extensively.
… my appetite or tolerance to pay much more than I’m already paying is not very big… Why would we stay and be raped?
The British businessman, who owns South African F1 Powerboat racing team, Caudwell Racing, claims Corbyn does not understand that wealth has to be created before it can be distributed. He insists the left-wing leader would be a “complete fiasco for the UK.”
Also on rt.com Rich & powerful distract us with imagined threats to cling onto their gainsThe Labour Party has said that “95 percent of taxpayers will be guaranteed no increase in their income tax contributions,” if it gains power in the next general election.
In the party’s 2017 election manifesto, it stated that “only the top 5 percent of earners” would be asked to pay more in tax to help fund public services.
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