Especially for high earners, those who aspire to be so or the rich who don’t need to be here. Higher income tax, the bonus levy and 5% stamp duty on houses over £1m are not going to seduce the well heeled.

“From next month, the UK will rank second only to Italy in the G20 countries in terms of tax unattractiveness for a high earner,” PricewaterhouseCoopers partner Sean Drury told CityAM.