Mr Watts said researchers found that fewer “of the world’s super rich are coming to live in the UK.”
He said he was “struck by the strength of criticism for Rachel Reeves’s Treasury” when speaking to wealthy individuals for the publication.
He said: “We expected the abolition of non-dom status would anger affluent people from overseas.
The Labour government abolished the non-dom tax status in April, which is where UK residents whose permanent home or domicile is outside the UK for tax purposes.
Instead, they now face the new foreign income and gains regime, which provides tax relief on foreign income and gains for people in their first four years of tax residence.
It only applies if they have not been a tax resident in the UK in any of the 10 consecutive years prior to their arrival.
Last year, former Conservative chancellor Jeremy Hunt revealed plans to scrap the tax status before successor Rachel Reeves sped up the process.
The government expects the package of measures to raise £12.7bn over the next five years. US President Donald Trump’s global tariffs, announced in April, have also had an impact.
The announcement saw the stock markets plummet immediately afterwards, with turbulence continuing since and businesses facing higher prices in the US.
The International Monetary Fund has said in its recent forecast for the world economy that global share prices dropped “as trade tensions flared” and warned about an “erosion of trust” between countries.
