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Sunday Times Rich list reveals criticism of UK government

As the Sunday Times Rich list is about to be revealed a number of those on the list have stepped forward to criticise the introduction of a 50% tax rate in the UK. It is rumoured that the likes of Hugh Osmond, the pubs and insurance entrepreneur, Tim Waterstone, founder of the Waterstone's bookshop chain and Peter Hargreaves, a substantial name in the UK financial advice sector, are all rumoured to be reviewing their living arrangements.

While the headlines immediately after budget day were very impressive for Labour and Labour voters there is now significant concern that some of the U.K.'s best business minds are looking to move overseas. There is also the potential for significant Labour donors, many of whom are millionaires and billionaires, to withdraw their support for the party in the run-up to the next general election. Historically, the Labour Party would have depended upon union funding but such has been the friction between Gordon Brown's government and unions in the UK that many are now threatening to withdraw their support.

The Labour Party, already rumoured to be substantially in debt, could have burned too many bridges in the run up to the general election and suffer from a significant reduction in financial support.

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