By Admin 
Lakshmi N Mittal, a big steel sector industrialist of Indian origin, has decided to leave Britain. He is among the richest industrialists of the United Kingdom and has decided to leave Britain because there the tax on the rich can be increased by up to 20 percent. The Labor Party led government may bring a proposal to increase taxes on the country’s super rich industrialists.
Lakshmi N Mittal is still living in Britain and is regularly included in the list of the richest people there. According to ‘The Sunday Times’, Lakshmi N Mittal is now considering going to Dubai. According to the report, Lakshmi N Mittal, founder of ‘ArcelorMittal Steelworks’, has an estimated wealth of 15.4 billion pounds in 2025 and is the eighth richest man in Britain.
‘The Sunday Times’, citing sources close to Lakshmi N Mittal, claimed that he has become the latest billionaire to leave Britain ahead of the much-awaited budget to be presented by Chancellor Rachel Reeves on Wednesday (November 26, 2025).
According to the report, in this proposal presented by Chancellor Rachel Reeves, tax on the rich can be increased by 20 percent. The newspaper claimed that Lakshmi N Mittal already owns a mansion in Dubai and has now bought large tracts of land in a lucrative development project on the nearby Nea Island in the United Arab Emirates (UAE). Lakshmi N Mittal was born in Rajasthan, but her family shifted to London in 1995. He has many luxurious houses in Kensington Palace Gardens, which also includes ‘Taj Mittal’ made of marble.
Before Lakshmi N Mittal, tech entrepreneur Harman Narula and Revolt co-founder Nick Storonsky have also shifted to UAE to avoid taxes. Experts say that this decision of the Labor government can also affect the investment of industrialists in the UK. He says that this is a matter of great concern for the industrialists who have created wealth here through hard work. Lakshmi N Mittal owns a 38 per cent stake in ArcelorMittal, worth £23.35 billion, and is also a long-time major donor to the Labor Party.