The statement comes at a time when speculation about rising taxes on inheritance, capital gains, savings and investment, combined with a scheduled abolition of the resident non-domicile regime, has prompted talk that the UK will experience a wealth exodus. 

Inheritance tax (IHT) is currently charged at 40 per cent above a threshold on the estate of a deceased person, currently set at £325,000 ($422, 000). But Reeves is expected to make it more difficult to gift money and assets, such as farmland tax free, or scrap business relief, which enables an individual to pass on a company or shares if it is unlisted with 100 per cent tax relief. Currently, no IHT is due on gifts if they are made by a person who lives for more than seven years after the gifts were made but this could be extended to 10 years. It looks as though capital gains tax (CGT) is going up too, with the only question being how high. See more commentary here and here.