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CNBC UK ExchangeCNBC's UK Exchange newsletter: UK's millionaire exodus spells more trouble for LabourPublished Wed, Jul 2 20251:30 AM EDTIan KingWATCH LIVEKey PointsU.K. Chancellor of the Exchequer Rachel Reeves abolished the country's tax exemption on offshore trusts.Overnight it turned the U.K. from one of the most attractive destinations for the world's wealthiest people into one of the most expensive places in the world to die.Among those leaving include Richard Gnodde, vice chairman of Goldman Sachs, and Nassef Sawiris, Egypt's richest man.In this article
This report is from this week's CNBC's UK Exchange newsletter. Each Wednesday, Ian King brings you expert insights on the most important business stories from the U.K. and the key personalities shaping the news. The newsletter will also highlight other key developments in the U.K. that you won't want to miss, plus a preview of essential events that are set to make waves. Like what you see? You can subscribe here.
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