Robert Colville, director of the Centre for Policy Studies, said emigration is now running at levels not seen since 1964.

The ONS said the age profile of people leaving however was consistent with broader migration trends – as people who move abroad tend to be younger.

David Little, financial planning partner at UK wealth manager Evelyn Partners, said younger Britons are being driven overseas by worsening economic conditions at home.

“There is an increasingly negative economic narrative in the UK, with higher unemployment, growing debt burdens and fewer opportunities for graduates.”

He said Dubai has become a particularly popular destination for British workers.

“Destinations like the UAE offer tax-free living, a ‘can-do’ attitude and a business-friendly environment that feels far more optimistic and rewarding.”

He also said families are changing how they financially support younger relatives, where parents who might previously have helped fund a house deposit, are now paying for relocation and settlement costs abroad.

This reflects a shift in how families view long-term prospects, with emigration increasingly seen as a more viable route to financial security than buying property in Britain.

|

GETTY

Entrepreneur Isobel Perl is among those preparing to leave the UK.

The 30-year-old launched her skincare business from her parents’ home in Watford five years ago and plans to relocate to Dubai in the new year.

“My sister moved to Dubai a few years ago and my parents have decided to move too, so it just makes sense.”

She told the BBC the year-round sunshine and the absence of income tax were major attractions, despite the city’s high cost of living.

Ms Perl has secured one of 10,000 golden visas for content creators, giving her ten years’ residency in the UAE.

“Most people moving to Dubai have big ambitions and dreams, and that energy is so important to be around.

“There is a thriving business community and it is a very inspiring place to be.”

| GETTY

Ms Perl said she plans to continue manufacturing her products in the UK while running the business from the Emirates, and hopes to eventually sell her skincare range locally in Dubai.

Sol Hyde, a 25-year-old from Colchester, represents another group of young Britons choosing to build businesses overseas, leaving his dissatisfying corporate job last October.

“I was waking up to darkness and cold, it was quite a lonely existence because all my friends were working so hard.”

After launching a marketing consultancy in January, Mr Hyde has spent much of the year working remotely from Bali, with Cape Town likely to be his next base.

The businessman said Britain suffers from what he described as a “tall poppy syndrome”.

“Success is met with criticism, rumour-spreading and general hate.”

He said the UK tax system would have limited his ability to expand the business.

“I love the UK and I am not ruling out coming back when I am in a better financial position, but right now I am so glad I left.”

Shanker Singham, chair of The Growth Commission, said the scale of emigration should concern policymakers.

He told GB News: “These figures spell catastrophe for the UK.

“It is a combination of taxation, but also the sclerotic and anti-competitive regulatory system in the UK.”

Mr Singham added that regulation now poses a greater barrier to growth than tax levels.

| GETTY IMAGES

Beyond Dubai, young Britons are also moving to countries offering work and residency opportunities.

Popular destinations include Australia through working holiday visas, Canada via skilled worker programmes, and European countries such as Spain, Italy and Ireland.

Economists have warned the loss of educated and skilled workers could worsen shortages in healthcare, technology and creative industries.

The Department for Work and Pensions (DWP) defended the Government’s approach, saying, “every young person deserves a fair chance to succeed, and when given the right support and opportunities, they will grasp them.”

They pointed to the Budget’s decision to maintain corporation tax at 25 per cent, and continued support for high streets and start-ups.