Interest in emigration has risen 1,000% as UK taxes and prices rise, lawyers and financial advisers say:
A dramatic rise in the cost of living has prompted many Britons to leave the UK, according to professionals targeting aspiring expats. Google searches for moving abroad rose 1,000% in April, with the US, Canada and Australia as the top three preferred destinations.
The Telegraph first reported the alarming trend on Friday, attributing the desire to emigrate to “the cost of living as rising energy prices and rising inflation plague household budgets”.
The outlet blamed a combination of rising taxes and inflation, which officially hit 7% in March. The Bank of England has warned it could hit 10% this year. There is also a spike in the cost of energy and household goods.
“People pay a lot more for everything and it’s a culmination of bad news. It makes people need a fresh start and they know they’re going to have a much cheaper life abroad,” said Jason Porter of Blevins Franks, a company providing financial advice to British expats across Europe.
Research by London migration lawyers at Reiss Edwards showed a thousandfold spike in searches abroad. Inquiries on Australian visas alone rose 670%, the company said.
“The British public has faced a gradual rise in the cost of living since the pandemic, which has exploded in recent months,” Reiss Edwards’s Amar Ali told the Daily Mail, when the outlet inquired about the report. †
The US tops the list of countries where Britons would like to emigrate, followed by Canada, Australia and New Zealand. Non-English speaking Spain and France are also in the top six for their lower cost of living.
An analysis of the cost of living, cited by the Daily Mail, says the average after-tax salary in the US can cover two months’ worth of living, compared to 1.6 in the UK. While eurozone inflation stood at 7.5% in April, it still costs 6% to live in France, according to aggregator Numbeo, while Spain is more than 18% cheaper.