Reeves’ Tax Grab Sparks Record £2.6 Billion Exodus From Stock Market
Rachel Reeves’ tax raid has sent investors fleeing from the stock market in droves, leading to a record exodus last month as they scrambled to withdraw their cash. In October alone, investors offloaded a staggering net £2.7 billion from equity funds—the largest outflow ever recorded—draining every category of fund in the process. Investors ran for the hills ahead of looming capital gains tax hikes. Now it’s been confirmed in the Budget, many more will follow…
This rush to withdraw came on the heels of September’s dismal figures, where savers also pulled their capital, marking the first net outflows in 11 months, according to Calastone. The recent sell-off has set off alarm bells for the London market, plunging the UK into a “doom loop” of Labour’s making. As UK company valuations nosedive, investors are bolting British stocks faster than you can say “economic mismanagement”…