The research, which was conducted in March and included a sample of 1,059 UK-based adults, found that 19% of wealthy Britons are considering leaving the UK within the next two years. This is up from the 14% who said they were considering leaving this time last year and a 2% rise on six months ago.
Lloyds TSB said, based on YouGov figures, the findings suggest more than half a million people with more than £250,000 of savings and investments may leave. The bank added that this is “not restricted to the small number of internationally mobile, ultra-high net worth individuals”.
The survey also asked respondents considering leaving the UK why they were and what could be done to make them re-consider. The most popular reason cited by respondents for leaving the UK was “crime and anti-social behaviour”, which was chosen by 56% of people.
Meanwhile, when asked what would encourage them to stay, 61% said investing in better infrastructure would be the most important factor, ahead of cutting regulatory red tape for businesses (49%) and well ahead of lowering taxes (45%).
It is not all doom and gloom, however and Lloyds TSB added that, while the figures do reveal a minority of wealthy people are discontent about life in the UK, a majority of 62% said they are currently happy with the UK as a place to live, compared with only 15% who are unhappy.
“Our research suggests the number of wealthy people leaving the UK is set to increase in the next two years,” said Nicholas Boys Smith, director, Lloyds TSB International Wealth. “This includes the large number of successful, affluent individuals who play an important role in powering the UK economy. While the figures strongly suggest we won’t see a mass exodus, it is clear that a significant and growing minority see opportunity and a better quality of life overseas.”
