Will politics drive Indian wealth offshore?
Almost one in nine of the richest people in the UK are of Indian descent. That could swell if a surcharge on the nation’s top taxpayers goes ahead, writes James Horrax.
A potential tax-hike by the Indian government could push wealthy Asians offshore and may benefit the UK long-term.
Out of the 1,000 wealthiest individuals in the UK, 62 are of Asian descent and three appear in the top 10, as per the Sunday Times Rich List.
In total, these 62 have a total net worth of £59 billion ($89.9 billion) between them. And despite only making up 6.2% of the list, Asians hold 13% of the £450 billion in total assets.
Most impressively, Asians increased the…
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