Britain “Doomed” Under Labour As Wealthy Scramble To “Get The Hell Out Of London”, Ryanair Boss Warns
5th November 2025
The UK is doomed under Labour, the boss of Ryanair has warned as he claimed wealthy people were scrambling to ‘get the hell out of London’ before being hit by a Budget tax raid.
Michael O’Leary said he had no faith in the Chancellor’s ability to restore growth and branded her tax policies ‘dumb’.
The comments came amid reports that Rachel Reeves is planning to target the wealthy with a mansion tax in the Budget later this month.
He told the Guardian: ‘The UK economy under the current leadership is doomed.’
‘The UK badly needs growth, but the way to deliver growth is through selective tax cuts… you are not going to grow the UK economy by taxing wealth or taxing air travel.’
Mr O’Leary’s comments add to a chorus of criticism of Labour from UK business leaders – following warnings about tax from the likes of Marks & Spencer boss Stuart Machin and Asda’s Allan Leighton.