New Delhi, Nov. 25 -- Indian-origin billionaire Lakshmi Mittal, one of the richest tycoons of the United Kingdom, has reportedly decided to leave the country. According to a report by The Sunday Times, the shocking decision comes as the Labour Party government marches ahead to table a tax reform system that targets the untra-rich.

According to the report, Mittal, the India-born founder of ArcelorMittal, is now a taxpaying resident of Switzerland and will move to the Naia Island in Dubai.

The steel magnate already owns a mansion in Dubai and has recently bought "tracts of an intriguing development on nearby Naia Island," as per The Sunday Times report.

Rachel Reeves' second Budget as UK Chancellor is expected to impose further taxes acr...