![\"Andy](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/06\/Andy-Burnham-with-Labour-MPs-e1782320208197.jpg\")
\t\tAndy Burnham has been urged to rule out introducing exit taxes. PA Wire\t<\/p>\n\t\t\tThursday 25 June 2026 5:00 am
\n\t\t\t\t\t\u00a0|\u00a0\u00a0Updated:\u00a0<\/p>\n
\t\t\tThursday 25 June 2026 12:10 pm\n\t<\/p>\n
\t\tAndy Burnham has been urged to rule out introducing exit taxes. PA Wire\t<\/p>\n
Entrepreneurs are calling for Andy Burnham to rule out an exit tax or risk another wave of Britain\u2019s wealth creators quitting the UK.<\/p>\n
Speculation around a so-called \u2018settling up\u2019 charge, which would be levied on business owners if they leave the country, is already causing some founders to consider moving overseas, several executives told City AM.<\/p>\n
\u201cLabour needs to rule it out now but they won\u2019t\u2026 founders are already planning their exit routes<\/a>,\u201d said Barney Hussey-Yeo, the founder of fintech Cleo, which was last year valued at over $1bn.<\/p>\n \u201cIt\u2019s going to be devastating for the UK economy,\u201d he said.<\/p>\n A so-called exit tax would involve applying a capital gains tax to individuals who permanently leave the UK. Some countries including the US apply a tax when individuals move abroad.<\/p>\n When asked if Burnham would rule out exit taxes, a spokesperson said they would not comment on speculation or write tax policy \u201coff the cuff\u201d.<\/p>\n \u2018It would be devastating\u2019<\/p>\n In his Makerfield by-election campaign, the newly-minted MP made a number of expensive promises including the nationalisation of utility firms, some form of compensation for Waspi women and reviving the HS2 leg to Manchester.<\/p>\n \t\t\t\t\tRead more<\/p>\n