The Egyptian billionaire Saris says “the incompetence of the Conservative Party” forced it to quit the United Kingdom

The Egyptian billionaire explodes Saris to blame “years of inefficiency” by the conservatives for the tax changes he says led him to leave the United Kingdom.

Soris, the richest man and owner of the English football club, told Aston Villa, to the Financial Times that he recently transferred his stay from London to Italy and Abu Dhabi, in an interview in his long -term office overlooking the Maxer Square in Micker, which he had since threw.

He said that the decision to move abroad after 15 years of living in the United Kingdom was due to a government campaign against the non -imagined population of the administration announced by the administration of the former Conservative Party.

“You cannot blame work,” said Siris. “All this was in the process of preparation for 10 years of incompetence by the most inclinatory conservative Party in history.”

The changes, announced by conservative counselor Jeremy Hunt, confirmed last autumn by replacing employment Rachel Reeves, with a tax system that allowed the residents of the United Kingdom who announced that their permanent house was elsewhere to avoid paying the tax on foreign income and gains.

Sawiris joins a rush of other wealthy individuals who have left or thinks about leaving the United Kingdom – like a steel giant Lakshmi Metal After tax changes, which came into effect on April 6.

Reeves has taken the burden of criticism about a series of tax increases aimed at addressing terrible public finances in the UK and helping them to meet the alleged financial rules in order to avoid escalating interest rates on government debt.

“I feel bad for her,” Sawiris said about Reeves. “She behaves like Margaret Tscher on financial discipline. Otherwise, the UK would have received a 7 % interest rate.”

However, he has warned that Reeves should be more absorbed for wealthy businessmen, given that their tax contributions can play a major role in financing government services. He added that it is possible that it is difficult to persuade many contestants to return.

He added: “The high clear value or wealthy entrepreneurs have options. You must treat them as if they were their best customers.” “I do not know anyone in my district who is not moving in April, or next April if (their children) has a school year or something like that.”

Soris also confirmed that the changes in the inheritance tax – which were made by the Labor Party – also played a role in his decision to abandon his stay in the United Kingdom. Reeves used the October budget to end the use of external boxes to avoid the UK’s inheritance tax.

Be careful that change means that wealthy people will “risk half your pure wealth” if they die while staying in the United Kingdom.

“On April 7, if a bus hit me at the time, my family is bankrupt because they must pay 40 percent of the taxes, because my liquids are not liquid. They have to pass the fire to pay this bill.”

Suriris, whose clear wealth was linked to a price of $ 9 billion by Forbes, is the youngest son in the late UNICES Swiris, who founded a construction company in the fifties and built for decades to a large multinational company called Orascom ConsTruance.

As the company grows, the family varied, the cement industry entered and expanded operations from Egypt to other emerging markets.

The Soriris family, who were the Christians of the Coptic, was targeted by seizing taxes and a travel ban by the Muslim Brotherhood, which swept the authority in Egypt in 2012 in the wake of the Arab uprisings, although he was later dislocated in a coup.

He said that the United Kingdom “gave me a house when the Muslim Brotherhood came to Egypt and I will always be debtor.” “I keep my house, I am planting my investment in Aston Villa, and I am looking to expand the stadium. It has not changed my love for this country.”

He said that his remarks were out of the UK care, as three of his four children were born. Sherine, his wife, a member of the Board of Trustees of the American School in London, which was attended by his children.

UK taxpayers face restrictions on how time they can return to spending in the country every year, in many cases 90 days annually, with only 30 days allowing work.

Saris will use some of those days to visit and attend his club’s football matches in Birmingham Aston Villa, who left the Champions League last week despite his attempt to return in the second stage of the quarter -finals against Paris Saint -Germain.

He and the US billionaires, Wes Edens, co -founder of the Fortress Investment Group, got a 55 percent stake in the club for 30 million pounds in 2018, as he saved it from the financial crisis and returned it to the English Premier League, where the team is currently in seventh place.

Samiris and its partners have invested greatly in the football club to improve performance. However, the club is not yet profitable and sold by young players previously to comply with the financial regulations in the English Premier League that limit the amount of the permitted teams to lose.

Sawiris complained that the rules are anti -competing and prevent Challenger clubs from bridging the gap with the likes of Manchester City and Liverpool.

“The Premier League is under the impression that what makes it wonderful is Manchester United, Liverpool, Chelsea and Arsenal, so they have to meet these men. But what makes the Premier League great is that Manchester United is kicking by Pots by Brighton.”

Aston Villa will witness its augmented stadium capacity to more than 50,000 seats of current 42000 levels, as part of Saris’s plan to invest about 100 million pounds in the team. However, development is waiting for local officials to move forward in expanding railways.

Soris re -devoted the family office in the NNS group last year from Luxembourg to Abu Dhabi, where he built close relations with its rulers and became a rare stranger to citizenship. he I told FT last year Abu Dhabi’s advantages include a stable and effective government, as well as “English without English”.

Through NNS, Sawiris dominates his property at the fertilizer company listed in the Dutch list, and the Adidas Sports Group, where he sits on the board of directors, and Aston Villa, as well as others.

Saris also last year Join the council From XRG, the company created by the National Oil Company in Abu Dhabi ADNOC to invest in global energy assets.

Soris said his office in London, which is sitting over the Philips Art Gallery, has been evacuated in the past few weeks. More than 40 employees have been transferred to Abu Dhabi.

“They (employees) have to move to 45 percent tax saving, so it’s not difficult for them,” laughs.