Sweden

IKEA Founder, Long a Tax Refugee, Returns to Sweden After Government Trims Its Take

Yes, high taxes drive people away

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Mr Kamprad, who built Ikea from a shop in his garden shed selling watches and Christmas cards, is one of Europe's wealthiest men. He left Sweden in the 1970s in protest at the country's high taxes, setting up residence in Switzerland.

"At that time, the tax regime was very restrictive," Ikea said.

But Sweden's centre-right coalition government has chipped away at the country's generous welfare system during its nearly two terms in office, trimming income taxes and abolishing a wealth tax.