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World

Is Labour’s non-dom crackdown backfiring already?

26 September 2024

10:08 PM

26 September 2024

10:08 PM

It takes something when even the Guardian is warning you that your tax rises might end up costing more than they raise in revenue. The paper is reporting today that Treasury officials are becoming worried that the Office for Budgetary Responsibility (OBR) will conclude that plans to abolish non-dom status and its associated loopholes will persuade so many rich individuals to leave the country that, even with higher taxes, the government will be the net loser.

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