High earner emigration concern

More of Britain's top earners could soon emigrate from the country in an effort to escape the government's new tax plans, it has been claimed.

Experts have suggested many Britons earning above the government's new 50p in the pound tax rate for those earning £150,000 or more could lead to many more people looking to make an international transfer overseas.

Chancellor Alistair Darling revealed in his Budget earlier this week that the government would introduce the new top rate of tax from next April, giving those earning above that amount 12 months to consider making an international money transfer and find somewhere else to live.

Before Mr Darling announced the measure, the Institute of Fiscal Studies had claimed that introducing such a tax would push more Britons to make an international payment and head abroad.

Meanwhile, the Irish Times has claimed that Ireland is set to see a similar increase in emigration over the coming year, led instead by its less wealthy residents.

There is a growing belief that many young Irish people currently heading overseas to undertake internships will choose to settle down abroad to avoid the sharp downturn currently affecting Ireland's economy.

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By Paul Jarvis