Abolishing non-dom tax status would be humiliation for Tories, says Phillipson | Budget 2024 (spring)
It would be an “abject humiliation” for the Tories if they implemented Labour’s policy of abolishing non-dom status, the shadow cabinet minister Bridget Phillipson has said. The abolition of the status, which gives generous tax breaks to some of the UK’s richest residents, has long been one of Labour’s headline policies, but the chancellor, Jeremy Hunt, is understood to be considering announcing a similar move in this week’s budget. During an interview on Sky News’s Sunday Morning With Trevor Phillips, Phillipson said: “If they were to do that [abolish non-dom status] it would be an abject humiliation, because Conservative cabinet ministers have spent years rubbishing this idea. “If they were to do it it would just demonstrate that it is Labour who are leading the charge when it comes to the battle of ideas in this country.” Non-dom status allows foreign nationals who live in the UK, but are officially domiciled overseas, to avoid paying UK tax on their overseas income or capital gains. Rishi Sunak’s wife, Akshata Murty, has previously enjoyed non-domiciled status. Bridget …
