Channel-Crossing Crisis

Dalrymple notes the massive exodus of French millionaires to London due to French tax policies, but warns of a potential reversal:

Corbyn’s policy is to increase government spending enormously, while balancing the budget: this can only mean much higher taxation, and given his social views, this in turn can only mean taxation on the rich and even the modestly prosperous, both of whom he regards as milch cows who will remain placidly in his field, waiting for him to milk them. But unless he exercises explicit power to keep them where they are (which he would not be above attempting, again, all in the name of social justice), they will flee, and take their capital with them. French exports of their rich will seem a mere trickle by comparison; and France, if Macron succeeds in his opportunism, will be a favored destination for ex-patriate Britons.

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