Tom Swarbrick hears from LBC callers as London has falls out of the top five wealthiest cities in the world.

Figures show the UK has lost a higher proportion of millionaires than anywhere in the world other than Moscow - a country facing severe international financial restrictions following the war in Ukraine.

The figures, revealed in an annual report on global wealth, show the capital has lost 11,300 dollar millionaires over the past year.

The number includes 18 centimillionaires - an individual with a net worth of $100 million or more - and two billionaires.

00:42 – Caller Jerry points out how high taxes on the wealthy lead to financial disincentives and could cause a significant loss of revenue if they leave the country.

02:25 – Caller Karen insists the super-rich ‘have not generated their wealth themselves.’

08:46 – Caller Dave, a high-income earner, expresses frustration, stating, ‘I feel like I'm a spy who pays an extortionate amount of tax on everything I do – whether it's earning, saving, buying property, or sending my kids to school.’

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