Why is Everyone Leaving London? | Business l Sarthak Ahuja скачать в хорошем качестве

Why is Everyone Leaving London? | Business l Sarthak Ahuja

Why is everyone leaving London and no one wants to be in the UK anymore? Out of all the countries, UK has seen the highest exit of millionaires last year… Almost 16.5k millionaires… which for context is double the number of millionaires who left China, and 4X the number that left India in the same period. And it’s happened because of two things that they did to their economy… 1/ The Labour Market 2/ The Housing Market Over the past two decades, they got so many cheap workers from countries like Bangladesh, Pakistan, surrounding European countries… That wages and salaries over the past 15 years have stayed stagnant adjusted for inflation while things are becoming expensive… Such that an educated professional makes 2X the money in New York at just a 30% hike in cost of living… And almost the same amount in Dubai with no taxes and 30% lower cost of living… So all the talent and educated class has been leaving the country. Then comes the housing issue… Which has roots in the reforms made in the late 1970s that gave tenants of govt housing to buy the govt housing at a discount… This created no incentive for private builders to build homes… And the housing shortage in the UK is so dire that London today has close to 200k homeless people… that’s 2% of their population… Possibly the highest homelessness for any developed country of the world. Now to support these homeless people, the govt has spent so much tax payer money… That money has not gone into innovation, manufacturing, infrastructure, healthcare… That has left UK as possibly the worst performer in OECD countries on productivity. So civil infrastructure and healthcare is crippling, taxes are high, salaries aren’t enough, and people can’t afford houses. On top of it, the people being elected are immigrants that the original inhabitants are not seemingly in the favour of. The UK economy is in quite a downward spiral, and we have no idea what economic reforms they will come up with to bring growth in the country. Let’s hope there is a turn around. -------------------------------------------------------------------------------- Like, Share, Subscribe for more! Follow me on my other social media handles for all updates, events and live sessions- Instagram:casarthakahuja LinkedIn: sarthak-ahuja Website: http://www.casarthakahuja.com/ ---------------------------------------------------------------------------------- A Chartered Accountant with about 10 years of experience in areas of Tax Advisory, Startup Consulting, Fundraising, Audits, Deal Advisory, Business Modelling and contract CFO services. Winner of the ISB Young Leader Award 2017 and the Best All Rounder, PGP Class of '17, Sarthak has also been published about in the leading financial newspapers such as The Financial Express as possibly the youngest Indian to have completed the courses of CA, CS and CMA along with a graduate degree in Financial & Investment Analysis from University of Delhi, all by the age of 23 years.