A TAX raid on Britain’s super rich is unlikely to trigger an exodus, a survey has found, suggesting that the next government has more scope to boost revenue.

Research by the London School of Economics (LSE) showed that the UK’s deep-rooted wealthiest are reluctant to move over tax, calling havens “boring” and “culturally barren”. 

None of the 35 people surveyed in the top 1 per cent for either income or wealth said that they are currently planning to leave the UK for tax reasons or are actively considering tax migration in the future, the LSE said.

Respondents came from across the political spectrum.

“We need to challenge the prevailing assumption that if you tax the rich, they will leave,” said Sam Friedman, professor of sociology at LSE.

“The rich are not only strongly embedded, but they’re also acutely aware of the stigma of tax migration – of being seen as unduly self-interested or moving to places others consider culturally barren and boring.”

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The findings indicate that whoever wins the next election could squeeze the richest to boost revenues and increase spending on public services.

However, the level of taxation, which is expected to reach the highest since World War II in the coming years, has triggered howls of protest from Prime Minister Rishi Sunak’s ruling Conservative Party.

The Labour opposition also has indicated it wants to ease the burden.

There have been warnings at past elections that higher taxes will lead to capital flight by the richest, hitting the Treasury’s revenues.

Britain’s richest 1 per cent pay around a third of all income tax, the Institute for Fiscal Studies estimates.

The LSE research found that many of the super rich are concerned that tax rates on this group are too high and will rise further.

A minority could not rule out moving over tax but only if the political and economic backdrop in the UK shifted dramatically.

Survey respondents living in London cited its culture, private schools and private healthcare as key to their deep roots in the UK. 

Labour’s shadow Chancellor Rachel Reeves agreed in an interview with The Telegraph this week that she wanted lower taxes on workers “across the spectrum”, including those earning above £100,000. BLOOMBERG