Leading investor Ray Dalio says Britain is in a 'doom loop' because of high taxes and rising debt.
Raluca Ioana Draghici
International
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Dalio pointed out that the UK could lose its richest taxpayers due to higher taxes, which would significantly affect tax revenues. He warned that a deterioration in economic conditions would cause those with financial resources to leave, having a negative impact on the economy. This comes amid speculation that the government will raise taxes to avoid further pressure on consumers.
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