Billionaire Chris Rokos leaves UK for Greece over tax concerns

Chris Rokos, the hedge fund billionaire and one of the UK's biggest taxpayers, has left the country for Greece, where tax rules for wealthy foreigners are more generous. He paid £330 million in tax last year, making him the third highest individual taxpayer in the UK.

The move has reignited a political debate about the impact of tax policy on wealth creators. On BBC Two's Politics Live, panellists clashed over whether the departure represents a loss to the Treasury and the wider economy, or whether it is a proportionate response to rising taxes.

Some argued that the loss of £330 million in tax revenue is significant, enough to fund 11,000 nurses. Others pointed to the example of Scotland, where higher income tax rates have led to a decrease in tax revenues as people who can afford to leave choose to do so.

The discussion also touched on the government's approach to tax, with Labour panellists defending the need to raise taxes to fund public services, while Conservative voices warned that excessive taxation drives away the wealth creators who support the economy.

The broader question of whether rich people leaving matters was also raised, with one panellist noting that while some may say "good riddance", economists warn that loading more taxes onto the economy does not help growth.