According to lawyers and financial planners, interest in emigration rose by 1000% because of rising UK taxes and prices.
Many Britons have begun to think about leaving the UK because of the drastic rise in costs of living, according professionals who cater to potential expats. Google searches to move abroad increased by 1000% in April with Australia, Canada, and the US the most desired destinations.
The Telegraph first reported the alarming trend Friday, attributing the desire to emigrate to “the cost of living squeeze, as soaring energy prices and rising inflation ravage household budgets.”
This was due to rising taxes as well as inflation. Officially, it hit 7% in February, but the Bank of England warned that it could rise to 10% by year’s end. A spike has been seen in energy prices and household items.
“People are paying much more for everything and it’s a culmination of bad news. It makes people get into the mindset of needing a new start and they know they will have a much cheaper life abroad,”Blevins Franks is a financial advisory firm for British expatriates living in Europe.
Reiss Edwards, a London-based migration lawyer found a 1,000-fold increase in inquiries about how to travel abroad. According to the firm, inquiries regarding Australian visas rose by 6700%.
“The British public has been faced with a gradual rise in the cost of living since the pandemic, which has been amplified enormously in the last couple of months,”Amar Ali of Reiss Edwards spoke to the Daily Mail when asked about the report.
American is the most popular country where Britons wish to immigrate. Canada, Australia and New Zealand are close behind. France and Spain are non-English speakers, but they make up the majority of the top six, due to lower living costs.
A Livingcost analysis cited by the Daily Mail says the after-tax salary in the US can cover two months’ worth of living expenses, compared to 1.6 in the UK. According to Numbeo, although the Eurozone inflation rate was 7.5% at April, living in France costs 66% less than in Spain.
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