For over a decade now I have been one of the UK’s largest individual taxpayers, paying over £300 million into the public coffers. And I have been disappointed by those who have decided not to pay their fair share and give back to a society that has been so good to them. People throughout the country have a right to feel cheated by this.

However, the result of the punitive tax rates being proposed by Jeremy Corbyn would be extreme capital flight not just from the super-wealthy, but also those with a little extra money in the bank. And it isn’t just Corbyn who is playing this fiscally irresponsible game. Chancellor Philip Hammond recently said that taxes will need to rise for years to cover social care costs.

These tax increases will have a crippling effect on the public purse. It is a national security risk. How do politicians expect to fund these services if they further incentivise the 1 per cent, who contribute 28 per cent of all income tax, to simply move their money elsewhere?

It may not be a popular line to take, but incentivising high-net worth individuals to stay is in the national interest. The much-discussed Laffer curve repeatedly demonstrates how excessive tax rates are detrimental to overall government income levels. At a time of deep social division over Brexit, with the economy in a fragile state, the further loss of funding to public services would, in my view, further the risk of social unrest.