With the new tax rate due to be introduced in April, those earning over £150,000 per annum would be taxed at 50%.
Emin, 46, said that she is 'very seriously considering leaving Britain', adding 'I'm simply not willing to pay tax at 50%....I reckon it would mean me paying about 65p in every pound with tax, National Insurance and so on'.
Though Emin was also keen to point out that the increased tax bracket was not the only influence in her decision, stating that ¢so much here is simply not working now¢¦ the taxes are too high, there aren¢t enough incentives to work hard and our politicians have put me off¢¦ we¢re paying through the nose for everything¢
Emin is not the first celebrity to voice her anger at the Government¢s plans, Sir Michael Caine has threatened to leave Britain voicing similar concerns and Guy Hands ¢ the financier who owns the EMI label has also recently moved to Guernsey.
Though despite opposition, the Government has argued that the increased tax on the wealthy is fair.
What do you think of Tracey Emin threatening to leave Britain? Do you think that the increased tax on the wealthy is fair? Do you think the wealthy should pay more tax or less tax?
