Hedge fund billionaire Chris Rokos, founder of Rokos Capital Management, is moving his tax residency from the UK to Greece and opening an office in Athens, joining a wider exodus of wealthy individuals from Britain under the Labour government. The move is politically awkward, coming on the same day new Chancellor John Healey used his first major speech to pledge Britain would become a "country of wealth creation," and fuels concerns that Labour's tax rises on non-doms, inheritance, property and private schools are driving high earners overseas.

Rokos was Britain's third-highest taxpayer last year, paying £330million, and is estimated to be worth £3billion after his firm's profits nearly tripled to £940million, earning him £477million in pay. He also donated £190million to Cambridge University, reportedly the largest single gift to a UK university, and owns the Grade I-listed Tottenham House in Wiltshire. His departure follows those of Checkout.com founder Guillaume Pousaz and Egyptian billionaire Nassef Sawiris, and comes as Greece offers wealthy foreigners a flat €100,000 annual tax on overseas income, while critics such as shadow chancellor Andrew Griffith argue Labour should cut welfare spending rather than raise taxes further.