Half of UK's richest want to leave

More than half of the UK's millionaires have fled or are thinking of fleeing the country's economic "storm clouds", according to a new study.

Taxation, perceived better living standards abroad and the weather mean that only 44 per cent say they are certain to remain here. But the survey of more than 500 UK-based millionaires, carried out for investment firm Skandia, found that only 2 per cent were thinking of moving to a tax haven. Preferred destinations included the US and Spain.

Jo Rimmer of Skandia said: "It seems to indicate that the UK's wealthiest will seriously consider moving to sunnier climes in either economic or meteorological terms."