Should we be bemoaning the ‘exodus of London’s millionaires’? Millionairedom, of course, is somewhat devalued these days (is that a mixed something or other) as a owning a one-bedroom flat in the right part of London elevates you there, but those with several or a few score of £ms are moving from London (and Moscow, apparently, which is also losing its richest) to, of course, the UAE, but also Italy, Portugal and Cyprus, all of which are more ‘tax-favourable’. If you can, why wouldn’t you, you might say, although I wouldn’t fight you for a flat in Dubai; and is London any the worse for a shortage of oligarchs of any description? As for losing clients, well, not our problem, I’m glad to say. Even if any in that category were to deign to approach us, experience has told me to politely decline as most fall into the ‘more trouble than they’re worth life’s too short’ category. Plenty of other fish in the sea and all that.
“Pensions minister: ‘we have created saving pots, but not a pension system’”
The OBR (Office of Budget Responsibility, as opposed to the OBI, often said to be housed in No.11) said this week that pensions were one of the biggest problems to be faced by this and future governments.
