It’s no secret the Labour government’s policy to tax the UK’s wealthiest as part of its effort to fix a budget crisis left by the Conservatives has caused Prime Minister Keir Starmer some headaches. The biggest exodus of wealth in the UK’s recent history appears to be underway, and the data shows the departure is likely to be a drain on the economy. But is it enough for Chancellor of the Exchequer Rachel Reeves to change course? And should she?

Bloomberg reporter Benjamin Stupples joins host Allegra Stratton to discuss. 

It&rsquo;s no secret the Labour government&rsquo;s policy to tax the UK&rsquo;s wealthiest&nbsp;as part of its effort to fix a budget crisis left by the Conservatives has caused Prime Minister Keir Starmer some headaches. The biggest exodus of wealth in the UK&rsquo;s recent history appears to be&nbsp;<a href="bbg://news/stories/SX2KLTT0AFB4" data-web-url="https://www.bloomberg.com/news/articles/2025-06-01/uk-non-dom-exits-seen-hitting-at-least-10-with-more-to-come" data-cke-saved-href="bbg://news/stories/SX2KLTT0AFB4">underway</a>, and the data shows the departure is likely to&nbsp;be a <a href="bbg://news/stories/SXR0OMDWRGG0" data-web-url="https://www.bloomberg.com/news/features/2025-06-11/wealth-exodus-leaves-britain-counting-cost-of-taxing-non-doms" data-cke-saved-href="bbg://news/stories/SXR0OMDWRGG0">drain on the economy</a>. But is it enough for Chancellor of the Exchequer Rachel Reeves to change course? And should she? Bloomberg reporter Benjamin Stupples joins host Allegra Stratton to discuss.&nbsp;

Get ahead of the trends and conversations that are shaping the City of London. Join Bloomberg's Francine Lacqua, Allegra Stratton and Dave Merritt every Thursday as they uncover the best stories and speak to the people in the know. 

Get ahead of the trends and conversations that are shaping the City of London. Join Bloomberg's Francine Lacqua, Allegra Stratton and Dave Merritt every Thursday as they uncover the best stories and speak to the people in the know.

Every week, Francine Lacqua and David Merritt go behind the scenes in the City of London, uncovering stories and speaking to the people that matter.

In the City

Get ahead of the trends and conversations that are shaping the City of London. Join Bloomberg's Francine Lacqua, Allegra Stratton and David Merritt every Thursday as they uncover the best stories and speak to the people in the know. 

Get ahead of the trends and conversations that are shaping the City of London. Join Bloomberg's Francine Lacqua, Allegra Stratton and David Merritt every Thursday as they uncover the best stories and speak to the people in the know.

In The City

In the City: Will Rachel Reeves Undo the Non-Dom Mess?

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