Rachel’s Folly6 May 2025 08:46
“Rachel Reeves’s crackdown on non-doms threatens to cost the Treasury billions of pounds rather than raising money, new analysis shows.
An exodus of the wealthy could lose the Exchequer £12.2bn over this parliament if half of non-doms decide to leave Britain, analysis from the Centre for Economics and Business Research (CEBR) found.
If a third left, the UK would lose £700m in the first year. If just 25pc of former non-domiciled people chose to quit the UK, the Treasury would make no extra money from the decision to scrap non-dom status.
There are already signs that non-doms are quitting the UK. Last year, the UK lost 10,800 millionaires to overseas countries, more than double the number who left in 2023, according to data from the Adam Smith Institute.
Treasury tax receipts from wealth individuals were also down in the first three months of 2025, compared to a year earlier.”
Who voted for these morons ? Not me……