Simon Caulkin on non-doms

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I think Simon Caulkin one of the best writers on management in the UK today. Last weekend he wrote:

Of course, we want London to continue to innovate and be a magnet for the financial sector, but for the right reasons, not the wrong ones. Maintaining a dubious status as an offshore tax haven, as the IMF named the UK last year, which is home to the largest community of non-dom tycoons in the world, figures among the latter rather than the former.

London owes it to the world, as well as the rest of the economy, to innovate in ways that improve the sustainability of the body as a whole rather than undermine it. That means embracing transparency and accountability, including, especially, the ways its big shots pay themselves. A system that generates colossal rewards for the few and crises and losses for the many is unsustainable in the long term even if it doesn't auto-destruct in the short.

It's amazing how this issue is now moving out way beyond tax. Quite right too.