Billionaire Bassim Haidar Considers Exiting UK Amid Wealth Tax Overhaul

Bassim Haidar, a wealthy entrepreneur, is contemplating moving from the UK due to proposed changes in the inheritance tax. With Prime Minister Keir Starmer's recent election win, Haidar is exploring homes in Greece and Monaco. He believes the tax overhaul could harm the economy and drive international business owners away.

For ultra-wealthy entrepreneur Bassim Haidar, living in London has become an expensive indulgence he can no longer justify.

While new British Prime Minister Keir Starmer settles into No. 10 Downing St, Haidar is searching for homes in Greece and Monaco, because a proposed inheritance tax revamp will make Britain a 'no go' zone for the rich, he says. Starmer says the overhaul will make Britain's tax system fairer and raise funds for stretched public services.

While supportive of some reform, Haidar says the proposed changes could harm the economy if international business owners choose to quit Britain or avoid moving here, undermining its reputation as an incubator for fledgling firms. The recently ousted Conservative government outlined surprise plans in March to phase out Britain's centuries-old 'non dom' tax regime, which spares wealthy individuals from paying tax on income earned overseas.