Only this government?
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The usual dose of healthy scepticism should be applied to this but some economists claiming that the UK would lose £7bn under Labours non dom plans. I think the reality is that if we force someone to do 100% of their tax in one country or another, then we risk getting 0% more often than 100%. I must say, it doesn't really strike me as fair that money made in India on the back of Indian workers is now paid to the British state. A whiff of colonialism about it.
https://www.msn.com/en-gb/money/othe...b56bd5fa0207dc
When you say some economists presumably you mean the company mentioned in the article, Blick Rothenberg, the tax and advisory firm.
Here is Blick Rothenberg, the tax and advisory firm advising non-doms on how they could help them minimise their tax liability.
https://www.blickrothenberg.com/serv...non-domiciled/
Then we get 7 billion less. The Tories are walking a tightrope of 'greatest country in the world' and 'rich people will leave if we charge them a penny more'. It doesn't wash with me and increasingly won't with the voting public as their living standards are squeezed.
The fact that they charge Non Dom's 30k to avoid millions of tax just makes it more demoralising for working people, another massive flashing neon sign saying 'the system is rigged in favour of rich people'
Hate to change the back story and I know it's been a while since any other party had to actually govern and make real decisions UK wide, but it's not just "The Tories" that allow it of course. Multiple governments have. And my suspicion is that this is because removing it would lose the treasury more money.
I wouldn't take the loss of £7bn so lightly. What would you cut back on? Benefits? NHS? Education?
No easy decisions to make here, which I suppose is my point. These stories get spun with populist zeal, but the reality is quite different.
£ 7 billion is about 18/19 % of what was spent on our “world beating” track and trace isn’t it?
Useful bit of analysis that previous restrictions by George Osborne, which presumably weren't colonial did not lead to a great non-dom migration.
https://www.lse.ac.uk/News/Latest-ne...pr-22/Non-doms
Most seem embedded in some of the highest priced property in the country including Premier League superstar hotspots. Who knows if people decide to return to the US or India then there may be a trickle down to more affordable housing which should be good.
Personally I think that taxation policy should come in coherent packages. This seems a bit opportunist. I also agree that stories get spun with populist zeal and the reality is quite different. Probably more pertinent to the Rwandan thread though.
Sunak was riding very high in popularity polls not too long ago, but he's come under fire from the papers and Labour and his popularity has plummeted.
He was a shoe in for the next prime minister if Johnson was brought down, but now I don't think so.
No, that oft-quoted piece of misinformation has been debunked numerous times
https://fullfact.org/online/track-an...-project-cost/
https://fullfact.org/health/nhs-test-and-trace-cost/
https://fullfact.org/online/37bn-test-trace-spending/
Well now they have a decision to make Boris , Rishi who is better option , or the dark horse Ben Wallace , none have legs like Angela though, so her legs get my vote this week in the world of serous politics and no policy , unless Rishi is hiding something under those tracky bottoms ?
Its funny how me simply mentioning the Tories can send you into a defensive tailspin. My point was that those two core sentiments don't match well. I think the UK is a pretty good place to live and therefore I don't think billionaire Non Dom's would all flock to the exits if asked to pay tax.
Besides the point really, society needs an underlying sense of fairness to hold it together. We can keep pushing, taking from working people while extending tax cuts to billionaires and propping up failing toxic businesses in the form of corporate welfare but at some point, the elastic will snap.
It isn't populist zeal to ask how it is sustainable for wealth to become more and more concentrated. Now, people don't care as long as they feel wealthier themselves, but once they don't and haven't for a while, we don't really know what happens then.
Or don't worry about any of that and simply fill that 7 billion gap by chasing down the taxpayer money stolen through covid fraud.
So, no doubt we’ll soon be hearing Tory bragging about how the world beating track and trace scheme came in under budget I suppose - the reason being of course that it was crap.
What the fact checker confirms though is that the underperforming track and trace scheme cost just short of twice that £7 billion in its first year of operation.