The exit tax has been confirmed and is happening. 🤦‍♂️ Multiple credible sources say @TorstenBell is driving it with Minouche in support. Torsten... I get it. We just saw Nik from Revolut move to Dubai and pay zero capital gains tax. This looks like a simple solution. It's not. It has devastating side effects for the UK. Founders were already choosing to start and scale their businesses in the US over the UK. It's a trend that's been accelerating - one we desperately need to reverse. This does the opposite. Founders are planning to be in the US when the budget comes around. The ones who can't are booking low valuations and planning to move ASAP. The problem? No one believes it will stay at 20%. The OBR forecast is still overly optimistic. Everyone knows the next budget will bring more tax rises, and entrepreneurs will be targeted again. Putting in an exit tax now isn't the simple solution you think it is. It will accelerate the exodus of our best and brightest.