Analysis finds value of moved pensions savings could raise similar revenue by 2029 as a year’s air passenger duty
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Allowing Hongkongers who have moved to the UK to stay permanently after five years could net more than £4bn for the Treasury by 2029, according to a thinktank.
The analysis by the China Strategic Risks Institute (CSRI), which was sent to the Home Office before the budget, suggests the move could raise almost as much revenue as a year’s worth of air passenger duty by enabling Hongkongers to move their pension savings here.
More than 160,000 Hongkongers who hold British national (overseas) (BNO) passports have moved to the UK since 2021, according to Home Office figures from earlier this year.
