Third biggest taxpayer flees Britain in huge Labour blow as John Healey promises ‘growth’_D

Britain’s third largest individual taxpayer has announced they will leave the country amid mounting speculation Labour will slam up taxes in the next budget.

Chris Rokos, who paid an estimated £330million to the Treasury last year, will head to Greece which has far more friendly tax laws for the super-rich.

The news comes on the same day that the Labour Chancellor John Healey announced he wanted to see the country’s economy growing more.

Mr Rokos, 55, is worth an estimated £2.3bn and runs a hedge fund looking after more than £22bn in the UK.

Conservative Shadow Chancellor of Exchequer, Andrew Griffith MP said: “Chris Rokos is Britain’s third-highest taxpayer.

“He has made huge contributions to charities and educational causes across our country. Yet another wealth and job creator leaving Britain is bad news for all of us.

“Whatever your personal finances, wealth creators leaving the UK means fewer opportunities for young people and leaves the rest of us paying more.

“This is what happens when a government hikes taxes. Our best and brightest are choosing where to live – and they are not choosing Labour’s Britain.”

Greece has a far more generous regime in place for high net work taxpayers. Under their system qualifying high net worth individuals that are new residents can pay a €100,000 annual flat tax on foreign income.

There are conditions they must meet to qualify for this, with the regime applicable for 15 years, and they must meet investment requirements.

It comes following months of speculation of further tax hikes in the budget including those targeting the super-rich.

Chancellor Healey has refused to rule out such tax rises in the next Budget, which is due in October.

Speaking at a press conference this morning he said: “If I respond to speculation now, that only fuels more speculation.”

In her budgets, the now former Chancellor Rachel Reeves increases a raft of taxes inlcuding national insurance contributions made by employers.

It was reported months after the tax hikes that up to 1,000 jobs a day were being lost as a result of Labour’s decision to increase national insurance.

New Prime Minister Andy Burnham has repeatedly said he intends to stick to that manifesto.

The departure of Mr Rokos could be another headache for the Chancellor after Jaguar Land Rover (JLR) confirmed it would be axing 4,000 jobs.

Reform UK’s Shadow Chancellor Robert Jenrick MP said: “On the day 4,000 people are losing their jobs, Healey gave a dire and dreary speech that will change absolutely nothing. John Healey is beginning to make even Rachel Reeves seem inspiring.”

A spokesperson for Rokos declined to comment on the reported move, according to the Financial Times.