Is the Grass Really Greener Elsewhere?
From July to October 2025, the Bank of England and the Office of Budget Responsibility gave gloomy reports on the state of the UK economy. They reported business confidence had diminished, with new investment faltering, and a slowing job market.
These were in tandem with doubts over government promises to reduce spending amid increased concerns over sovereign debt levels; reminiscent of concerns last expressed during the short-lived tenor of Liz Truss as Prime Minister and her government’s unfunded tax cuts in the Autumn budget of 2022. UK gilt markets provided a severe rebuke-could similar happen again with Labour’s spending plans?
The OBR postured that the nation’s finances were unsustainable- suggesting a wealth tax as a solution to its fiscal problems (better than a rout in the gilt market).
Notably, rising unemployment and falling economic output are indicators of stagflation which can weigh on the appeal of the currency and the ability to cut rates to boost growth while attracting debt investors to hold government bonds. Once again, it is reminiscent of the UK in the 1970s and its infamous IMF bailout during the term of another Labour government.
Currently, the UK Chancellor is facing economic forecasts of an ‘overall fiscal hole of some 30 billion’ in the public finances as ‘a productivity downgrade from the Office of Budget Responsibility’ further contributes to the government’s deepening economic woes (FT,2025).
Widespread expectations are that the November budget will include tax increases to support government spending, but the independent Bank of England is still wary about making more interest rate cuts as it works to support the pound and manage persistent ‘sticky’ inflation.
The current 4% rate for Sterling retains its attraction for foreign exchange investors. But additional taxes may prompt wealthier voters and non-domiciled residents to leave the UK, potentially making the Chancellor more cautious with budget decisions.
Exodus of fleet-footed millionaires
The UK Treasury would miss the tax revenues if an exodus of fleet-footed millionaires departed the country if the threat of stagflation loomed ahead. If a potentially unpleasant combination of a debt and sterling crisis compounded by further tax rises was not disconcerting enough.
The proposed government digital surveillance measures, viz-a-vis, identity cards to help curb immigration, allegedly, along with mooted travel restrictions propounds such proposals and proffers- how long will it take until currency exports curbs become reimposed for those tax fleeing millionaires?
These unappealing fiscal prospects could emerge to trouble the UK if the OBR forecasts prove accurate and productivity along with investment remain stagnant.
Nevertheless, whether its politicians playing to the gallery, government agencies with their gloomy forecasts, or social media with its ever-obliging algorithm serving-up news stories on ‘Broken Britain’ with products or travel offers on whatever you dare think about (eerily soon after appearing). The broken Britain headlines usually warn about impending economic doom or looming civil strife to panic all and sundry.
However, there is always more of a balanced position to consider before running for the hills or someone else’s hills. The thing about old countries like Britain is they have already hung on like an old broken gate for centuries through thick and thin- creakily functioning but never quite falling apart, even under severe strife.
Catastrophic societal collapses
Although catastrophic societal collapses do occur where everything changes from time-to-time, like the Dark Ages, the Norman Conquest, or the catastrophe of the Black Death (1347-1351), but these are exceedingly rare events. Therefore, is it wise to move lock, stock, and barrel to foreign parts, unless considered one of these rare catastrophic events, and where would be a preferable place to escape?
Historians will note in the Late Bronze Age, the entire Mediterranean based civilisation collapsed so where did they run too- the Pillars of Heracles was the edge of the known World and the unknown lay beyond (otherwise known as the Straits of Gibraltar). Not forgetting in recent times countries, including the UK, recovered from calamitous 20th century wars with a depression in-between.
Ancient historian Eric Kline (2020) in his ‘1177 BC The year Civilisation Collapsed’ conducts an enjoyable YouTube lecture- Bing Videos on how such events unfolded in ancient times. From ancient societal collapse to forecasting trouble ahead, a prerequisite before a dramatic flight-to-pastures new is making a balanced considered assessment to where is better and why, otherwise, one jumps from the frying pan into the fire.
A balanced assessment should consider longer term trends and developments like final go-ahead for the UK’s massive Sizewell ‘C’ EPR model nuclear power station to commence construction in Suffolk over the next 15 years. The UK government has made a £38 Billion investment with Centrica and France’s EDF as significant shareholders in the project (Sizewell C, 2025).
The naval warship building order from Norway to ‘buy at least five British Type-26 frigates that will primarily be built in Glasgow by BAe Systems, with the first deliveries expected in 2023’ and will provide high-skilled employment for years (FT, 2025).
There’s a Department for Science, Innovation, and Technology claim that the UK is ‘the most attractive place to invest in the world,’ however it was closely accompanied by criticism from US pharmaceutical giant Merck as it ‘scraps £1bn London drug research centre’ stating, ‘simply put, the UK is not internationally competitive’ (FT, 2025).
There is also the slightly embarrassing story about UK naval vessels that will be ‘largely built in Spain’ as the H&W construction yard in Belfast is not ready for use after extensive upgrades (FT.2025). Significantly, the Spanish state defence company, Navantia had rescued the famous shipyard earlier in 2025. At least ship building will eventually continue in Belfast. One can ponder, what Elizabethan naval hero of the defeat of the Spanish Armada in 1588 Sir Francis Drake would make of such an eventuality.
To date the UK has managed to endure the difficulties of trade with its European, US and Asian partners to overcome problems, sometimes slowly but always eventually, even with regurgitated promises from recent US presidential visits.
Surely pushing for a systemic political overhaul would provide a better, more endurable solution than entrepreneurs and wealthy influential people simply bailing out and going somewhere unfamiliar?
Socio-political reform requires commitment, determination and eventually compromise with neighbours whom you may share little but locality. Flightier more tax-averse time deficient entrepreneurs may prefer a more rootless cosmopolitan lifestyle over national and local commitments, thus opt for a new lifestyle and its forthcoming challenges.
The billionaire founder of the fintech Revolut has left the UK, according to reports. Notably, he is Russian so free to live wherever and probably needs one than one residential base anyway. His example is one depicting a pattern of migration rather than emigration. First-time potential emigrants with only short holidays or business trips as their overseas experience need to weigh the pros and cons far more carefully.
With those viewpoints there is lots available on YouTube, Facebook or LinkedIn feeds about the UK being past its best and justify why this time is the time to move to pastures green for high tax-paying multi-millionaires with the means to do so.
Popular destinations
Once again taking a balanced perspective helps focus the benefits and pitfalls of emigration. Popular destinations are Canada, New Zealand Australia with the USA already familiar with the billionaire class, who can live where they want.
These counties also have their problems with social and economic issues (namely: drugs, housing, immigration, and education provision). It is fair comment that with abundant land for housing. The US housing market should be affordable to all with a wide variety of styles and sizes to suit all budgets.
However, average incomes suggest otherwise combined with highly contentious municipal planning zones have made home ownership a highly politicised national issue- for further reading see the Journal of Urban Economics (2025) and an Ernst & Young (2025) on how to improve zoning and affordability for housing in the US.
Meanwhile in Canada, from a personal anecdote from a Canadian writer made to the author whilst living and working in Edinburgh. She described the appalling drug problems of small towns across the Canadian provinces, including places like Windsor and Belleville, in Ontario where the Little Deal Clincher had visited extended family when these places enjoyed better times.
Even beautiful looking New Zealand, with its landscape featured as the backdrop for the Lord of the Rings films, directed by Peter Jackson, long considered an ideal destination to emigrate for the family and outdoor sporting life. Yet since the Pandemic, negative reports have arisen about the falling standard of living causing New Zealanders to emigrate in large numbers to live elsewhere, especially Australia (RNZ, 2024).
Indeed, with a modicum of research, whatever troubles and faults upsets UK multimillionaires and their poorer compatriots, re-appear in idyllic destinations in sunnier climes. Where is the grass greener and pastures uncluttered with hypodermic needles- with reason then the question of ‘where to go’ remains a considerable obstacle?
In sunny European countries, like Portugal, they have seen house prices rises in recent years. Spain has become less welcoming to mass tourism and unhappy residents complain about higher costs of living, rising inflation, overcrowded transport and services, with hotspots Majorca and Barcelona wishing for reductions in tourist numbers (or perhaps wealthy high-spending emigres are the exception)- with plenty YouTube clips available on Bing Videos.
Nevertheless, complaining about a major source of economic activity is a risky call and a difficult political conundrum to rectify. Can you rid yourself of unwelcome tourists and only attract the ones you want? Restricting entry is easier in tiny rich Lichtenstein or secretive Switzerland can but larger and poor countries that are more reliant on mass tourism afford to be so choosy?
In truly sunnier climes, the UAE is often citied, and it is a lovely place to visit or work in. It is also a monarchy with little democratic participation for those not with the controlling elite and senior officials. However, that is what you need to accept if you wish to live there.
The YouTubers pepepective
YouTubers, such as Nomad Capitalist, suggest places like Uruguay or even Georgia as places to consider. Georgia in recent years has seen political instability or interference politically from Russia in their domestic affairs.
One must bear the emotional downsides to any move to a foreign and unfamiliar country, such as social estrangement from friends and family which is a corrosive gnawing emotion which causes homesickness. Unfamiliarity with local customs, tradition, habits, and diet forging regrets to arise about your move which can trigger anxiety, loneliness, or resentment.
Journeys back can be unsettling, and expensive if made frequently. Over time, while you may miss home deeply, however life moves on there too, and after about a decade, your old home might feel unfamiliar.
For those necessary trip home, one needs access to reliable scheduled flights and a non-seasonal airport. Do you or can you buy local property- is it transferable or saleable for inheritance? Who and where is my local doctor? A decent dentist and solicitor are considerations for permanent moves.
Visa requirements such as taking citizenship, or long-term resident including work permits are crucial elements. Taxation issues applicable both locally and for an expatriate returning to the UK frequently requires close attention to dates and a trustworthy advisor.
In answering where to go for a better life companies, like Nomadic Capitalist, have numerous videos on YouTube for a variety of locations which are very helpful on this topic with sensible comments and advice for those so inclined and wealthy enough-Nomad Capitalist – YouTube).
What reasons could lie behind people becoming discontented with the UK and to seek the hope of a better life elsewhere?
Before making serious enquires about living elsewhere due diligence over the validity and soundness of arguments made over the causes of perceived national decline makes a good starting point. Such questioning may avoid any manipulation into doing something rash and regrettable later. The odd adage of deciding in haste and repenting in one’s leisure apply.
Potential emigres should gradually weigh their decision to leave home against milestones of changes that diminish their living standards, tax their rewards for decades of demanding work, or reduce their personal freedoms and choices. If these criteria have proved a consistent feature of life over the years. Taking advice on an alternative lifestyle becomes more understandable.
A consequence of self-employment is that independently wealthy people tend to be less dependent on the state. If such a section of society increasingly moves offshore it could allow those in authority who remain to secure a political advantage over their more dependent citizens.
To counter such an actuality, surely, it is more benevolent and courageous to for wealthy UK entrepreneurs to remain and deal with the missteps of government policy causing rising costs, taxes, or tariffs. Rather than reason to emigrate, although wealth protection is a worthy consideration against authoritarian tendencies, improving the situation of the home nation would provide larger benefit in the long turn of events.
As noted, similar problems lie elsewhere and only those emigrating for the right reasons will enjoy their decision in the fullest sense, for example, people with dual nationality, or multilingual with family already overseas all of which helps make emigration easier.
Part two of my blog series (LDC May, 2025) discusses the political and philosophical arguments that have influenced the professional and managerial classes, and how these arguments may impact people’s decisions to emigrate or respond to political changes. It worth noting that the dominant ideology effects the political, social, and economic conditions of a country.
To stay or move comes down to what kind of politics and lifestyle individuals desire or prepared to endure and improve yet bear in mind that similar problems appear in most places. The grass is not greener it is simply different shades.
Coming next week are some political themes to discuss and overcome as an alternative to ignoring or emigrating from them. (Read November blog)
LDC October 2025
References and Further Reading:
Cline, E, (2020), ‘ 1177 B.C.: When Civilization Collapsed’ by Eric Cline, The Long Foundation 2020; Available Online on YouTube via Bing Videos at: Bing Videos
Financial Times, (2025), ‘UK Public Finances: Rachel Reeves Braced for Huge Hole in UK Public Finances After Productivity Downgrade’ by R. Parker & S. Fleming, The Financial Times Ltd 2025. Available Online at: Rachel Reeves braced for huge hole in UK public finances after productivity downgrade
Financial Times, (2025), ‘UK Secures Largest Warship Export Deal with Norway’ by D. Sheppard, Financial Times Ltd 2025. Available Online at: https://www.ft.com/content/23160153-fc98-46ab-8d7b-8ed3fa85952c
Financial Times, (2025), ‘Merck Slams UK as it Scraps £1bn London Drug Research Centre’, by H. Kuchler and P. Temple-West, Financial Times 2025. Available Online at: https://www.ft.com/content/5ace49a8-47ab-409d-8909-6edb107ce71a
Financial Times, (2025), ‘UK Warship to be Largely Built in Spain,’ By J. Webber and S. Pfeifer, Financial Times Ltd 2025. Available Online at: https://www.ft.com/content/ae2dc03c-8018-4303-ad48-87e0781270e8
Financial Times, (2025), ‘Letters: UK must invest in engineering skills to fulfil its innovation goal,’ From Yvonne Baker, Chief Executive of Chemical Engineers, Rugby, Warwickshire, UK. Available Online at: https://www.ft.com/content/d0a2a8ff-3784-463e-808c-95a56ae8dda8
Ernst & Young LLP, (2025), ‘How Zoning reform Can Increase Housing Development and Affordability’ by M. Anders and M. Selinger, 2025 Ernst & Young Global Ltd. Available Online at: How zoning reform can increase housing development and affordability | EY – US
Global news, (2025), ‘Barcelona Locals Shoot Water at Visitors in Protests Against Mass Tourism’, 2025 Global News, A Division of Corus Entertainment Inc. Available Online at: Bing Videos
Journal of Urban Economics, (2025), ‘The Effects of Residential Zoning in US Housing Markets’, by S. Song, Journal of Urban Economics vol.149 September 2025- 103784, 2025 Elsevier B.V. Available Online at : The effects of residential zoning in U.S. housing markets – ScienceDirect
Little Deal Clincher, (2025), ‘Part Two: The Professional Managerial Classes: The Critical Effects of Critical Theory and the Long Arc of the Educators of the Frankfurt School? ‘ by the Little Deal Clincher 2025. Available Online at: Part Two: The Professional Managerial Classes: The Critical Effects of Critical Theory and the Long Arc of the Educators of the Frankfurt School? – The Little Deal Clincher
Nomad Capitalist, (2025), ‘Go Where You’re Treated Best’ Nomad Capitalist Ltd 2025. Available Online at: Nomad Capitalist | Offshore Tax and Lifestyle Strategies for Entrepreneurs
RNZ, (2024), ‘Record Numbers Still leaving New Zealand-Stats NZ’, Business, Radio New Zealand News 2024. Available Online at: Record numbers still leaving New Zealand – Stats NZ | RNZ News
Sizewell C, (2025), ‘Final Investment Decision Reached for Sizewell C – the Biggest British Clean Energy project in a Generation’, By the Communication Team, Sizewell C. Available Online at: Final Investment Decision reached for Sizewell C – the biggest British clean energy project in a generation – Sizewell C
World History Encyclopaedia, (2019), ‘Bronze Age Collapse’ by J. Mark, 2025 World History Publishing. Available Online at: Bronze Age Collapse – World History Encyclopedia
Pics
Dubai Atlantis image from Pixabay
Village green Image by VariousPhotography from Pixabay
Govan shipyard By Dave Souza – Own work, CC BY-SA 4.0,
Id cards By Home Office, Fair use,
Manchu Pichu Image by Johnnie Shannon from Pixabay
Hobbits in New Zealand mage by Nel Botha from Pixabay
Tourist Go Home, By Billie Grace Ward from New York, USA – CC BY 2.0,
EasyJet flight Image by Johan Widén from Pixabay