Even if one in four non-domiciled remittance basis taxpayers leave the UK due to reforms to the foreign income and gains (FIG) regime, the net gain to the Treasury would be zero, showed analysis by the Centre for Economic & Business Research (Cebr) thinktank. In the best case scenario, if 10% were to leave, the government would raise an additional £1.5bn a year.

Under a higher emigration rate, CEBR modelling suggests that the Treasury would begin to make a loss.