A wealth management firm has reported growing interest from UK residents seeking to move their assets to the Channel Islands. Canaccord Wealth International has seen a 56% surge in

online searches for its services in Guernsey, Jersey, and the Isle of Man since the general election in July.

The company anticipates even greater interest following the Labour government's Budget announcement on Wednesday.

“There is concern that with the Labour government in power, we may see a return to higher taxation and spending policies, which some feel lack the level of fiscal responsibility they want,” said Mr. Finch, a representative of the company. “There is also a growing sense of distrust in governments and doubts about whether they will deliver value to the people.”

Mr. Finch added that the Budget could lead to more people considering relocation to the Channel Islands. “It feels like the financial impact in the UK will be more of a pinch than a punch,” he said. “Nonetheless, we expect continued interest from those exploring alternative jurisdictions to enhance their financial well-being.”

He noted the potential benefits for the Channel Islands. “We hope this interest will positively impact the islands. Beyond people seeking service providers here, there’s also the chance that more individuals will consider relocating to take advantage of a more favorable tax environment compared to the UK,” he said. Photo by TUBS, Wikimedia commons.