Authored by Mani Basharzad via the Foundation for Economic Education,
Samuel Johnson once wrote that “when a man is tired of London, he is tired of life.” Today, however, there seems to be one group that is tired of London: millionaires.
In the last week of June 2026, one of the world’s most famous antique fairs, the Treasure House Fair, took place in London, attracting collectors and dealers from around the globe. But this year, what attracted attention wasn’t only the antiques; it was the drop in foot traffic. At the time, the New York Times reported that “many dealers are facing a significant drop in foot traffic, or can no longer afford to have a showroom at all.”
The lack of customers for high-end items hints at the shift—the UK has recently surpassed China as the world leader in millionaire emigration. In 2025, roughly 16,500 millionaires left the country. China ranked second, with fewer than half that number. But Samuel Johnson should take note, because these millionaires aren’t tired of life; they’re tired of a mission-led government.
When the Labour government came to power in 2024, it had a clear vision of the model of governance it wanted to pursue: mission-led go
