The Egyptian billionaire Nassef Sawiris attacked the British Conservative Party, and blamed “years of inefficiency” by the party for the tax changes that he says prompted him to leave the United Kingdom.
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After 15 years of living in the United Kingdom, Sawiris decided to transfer the Emperor Empire Administration Center due to the government campaign against the non -residents announced by the previous Conservative Party administration.
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“The Labor Party cannot blame ten years of incompetence by the Conservative Party, the most inclined to the left, it was enough for what matters came to,” Sawiris said.
The changes, announced by the Governor’s Minister of Finance, Jeremy Hunt, and confirmed it in the fall of last year, his successor from the Labor Party, Rachel Reeves, led to an end to a tax system that allowed residents of the United Kingdom who announced that their permanent residence is elsewhere to avoid paying taxes on foreign income and profits.
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Sawiris joins a wave of other wealthy people who left the United Kingdom or thinking about leaving – such as the electrode of the Steel Lakshmi Mittal – after the tax changes that came into effect on April 6.
Reeves has been criticized for a series of tax increases, which was intended to address the deteriorating public finances in the United Kingdom and help it fulfill the so -called financial rules to avoid high interest rates on government debt.
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“I feel sorry for it,” Sawiris said.
However, Sawiris warned that Reeves should be more flexible with wealthy businessmen, given that their tax contributions may play a major role in financing government services.
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He added that it is likely that it is difficult to persuade many departures to return, and “the owners of large wealth or wealthy entrepreneurs have options. They should treat them as its best customers.”
He continued: “I do not know anyone in my circle that will not be transferred in April this year, or April, if it is [لأطفالهم] Academic year or the like. “
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Sawiris also confirmed that the changes to the inheritance tax – which the Labor Party has made – also played a role in its decision to abandon his stay in the United Kingdom.
“Reeves took advantage of the October budget to end the use of external renovations to avoid the 40%British inheritance tax. This change means that the wealthy will risk half of their wealth if they died during their stay in the United Kingdom,” continued: “On the seventh of April, if a bus shocked me, my families will be bankrupt, as they will have to pay them.” Almost 40% taxes. Because an unpopular fundamentalist will have to sell their shares at low prices to pay this bill. “
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“The United Kingdom gave me a home when the Muslim Brotherhood came to Egypt, and I will remain a permanent debtor,” Sawiris said. He added: “I will keep my home, and increase my investments in Aston Villa, and I look forward to expanding the stadium. It has not changed my love for this country.”
The departed British taxpayers face restrictions on the period that are allowed to return to and spend it annually, and in many cases 90 days annually, with only 30 days allowed to work.
Sawiris Ho and American billionaire Weiss Edins, co -founder of the Fortis Investment Group, acquired a 55% stake in the club for 30 million pounds in 2018, which saved him from the financial crisis and returned it to the English Premier League, where the team is currently ranked seventh.
