If the Conservatives compete with Labour in the politics of envy, it will never end well Non-doms must be welcome in an open, outward looking economy Ending non-dom status will cost Britain money Source - Capx - 11/04/24 Link Both the Labour and Conservative parties are engaged in an unedifying bidding war as to which of them will tax rich foreigners the most. The war on non-doms makes for crude politics and dire economics. This is a rather small number of people. There are 68,800 non-doms living in the UK under a permanent, settled arrangement. That means an opportunity – which 37,000 out of the 68,800 make use of – to claim the special ‘remittance basis’ tax status. Under that arrangement, they still have to pay UK tax on their UK income. But they can pay tax on their foreign income in the country in which they are domiciled – their permanent, long-term home country. If this is a ‘scandal’, it has been going on for over three centuries without any secrecy. If...