TechRound: Experts Comment: How Will the Recent Changes in the UK Budget Affect Talent Drain in the Tech Industry?
November 4, 2024
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The recently announced UK Autumn Budget has generated mixed reactions among the public and business owners, with significant changes affecting areas such as national insurance, income tax thresholds and Capital Gains Tax. Director Olga Nechita points out in TechRound that British citizens could feel their contributions to the economy are being overlooked, prompting them to seek alternative welcoming environments abroad.
Countries such as the UAE, Italy, Malta and Spain are capitalising on this sentiment by offering enticing tax incentives and immigration programmes. The budget's impact on businesses raises concerns about the UK's ability to retain entrepreneurs and attract new investment in a competitive global landscape.
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