Founders and investors in the UK are expressing strong opposition to a proposed 20% exit tax on the assets of wealthy entrepreneurs who leave the country. Over 150 individuals from the tech ecosystem, representing more than £10 billion in economic value, signed a letter warning that such a tax would discourage innovation and signal that the UK is not a welcoming environment for entrepreneurial talent. The proposal, linked to Chancellor Rachel Reeves, aims to raise about £2 billion to address a £30 billion shortfall in public finances. The letter, coordinated by the Startup Coalition, emphasizes the need for the UK to be an attractive place for global business growth. It points out the existing tax burdens, like the increase in Capital Gains Tax, which already burden founders. Investors like Harry Stebbings have criticized the exit tax as detrimental, predicting it would drive remaining founders away. The article highlights the case of Nik Storonsky, the CEO of Revolut, who relocated to the UAE due to unfavorable tax changes, illustrating a broader trend of talent leaving the UK.