Non doms explained
Paul Mason takes us through the politics and economics of Labour’s proposed abolition of non dom status.
He explains that the basics are quite simple:
First, non-dom status explained: super-rich people can pay less tax than poor people by claiming they don’t really live here. That’s it. When you think about it, it’s a clear anomaly.
So why haven’t cash-hungry Chancellors in times past closed the loophole? And why, even now, does Labour seem to be blurring its move to abolish non-dom status at the edges?
It goes to the heart of something unique in British culture: the question about whether super-rich people should enjoy a whole set of rules different even to quite rich, or even just comfortable middle class people.