Phones4u founder vows to leave UK if Corbyn brings in higher taxes

John Caudwell, the billionaire founder of Phones4u, has vowed to leave the UK for tax-free Monaco if Jeremy Corbyn becomes prime minister to avoid higher taxes. With an £1.6bn fortune, Caudwell, 66, is the UK’s 87th richest person, according to the Sunday Times Rich List. He said he and other wealthy Britons would emigrate to escape Corbyn’s proposed wealth tax. Caudwell, who built his fortune importing and selling mobile phones in the late 80s and early 90s, said a Corbyn-led government would be “a complete fiasco”. “If Corbyn wanted to start taxing more extensively than already, my appetite or tolerance to pay much more than I’m already paying is not very big,” Caudwell said.