Steel tycoon Lakshmi N Mittal has become the latest billionaire to exit the UK as looming tax changes under the Labour-led government rattle the country’s super-rich. The 75-year-old Indian-origin industrialist, who founded ArcelorMittal and has long featured on Britain’s rich list, is shifting his base to Dubai, according to . Advertisement

Currently a Swiss tax resident, Mittal reportedly plans to spend most of his time in the UAE, where he already owns a mansion and is acquiring property on Naïa Island. He is ranked the eighth richest person in the UK with an estimated net worth of £15.4 billion.

The move comes ahead of Chancellor Rachel Reeves’ Budget on Wednesday, expected to introduce further levies on the wealthy to plug a £20 billion gap in public finances. Inheritance tax, ra

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