UK budget tests Chancellor John Healey on keeping wealthy investors, The National reports | Wealth Office
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UK budget tests Chancellor John Healey on keeping wealthy investors, The National reports

Advisers say Britain's next budget must stem the outflow of private capital, with capital gains tax, a mansion tax and a new investor visa all in focus.

The National reports that Chancellor John Healey, who succeeded Rachel Reeves under Prime Minister Andy Burnham, faces pressure to use his autumn budget to keep internationally mobile wealth in Britain. Healey has dismissed calls from Labour MPs to align capital gains tax with income tax rates and has hinted the tax may not rise at all. A Labour official told the paper further taxes on the wealthy are unlikely, and plans to lower the £2 million threshold for a proposed mansion tax have reportedly been dropped. The article notes that about $160 billion of billionaire wealth has left the UK in two years, according to the Bloomberg Billionaires Index.

One proposal gaining attention comes from Foreign Investors for Britain, which wants an investor route requiring a £2.5 million minimum investment and a £200,000 annual flat-rate tax for up to 15 years. It estimates £225 billion of inward investment over a decade. Knight Frank figures cited show sales of homes above £5 million fell 14% in the 18 months after the October 2024 budget.

Why it matters: After two years of departures, the debate in Westminster has shifted from how much more to raise from the wealthy to how to keep them. For families weighing residence, any flat-tax visa or softer stance on capital gains would change the calculus on returning or staying. Until the budget is delivered, advisers are likely to counsel patience before restructuring or relocating.

Source: The National, October 26, 2026. Wealth Office summarises reporting by other publications and links to the original.