Digby Jones is one of those people whose credibility I have always doubted. Let's be blunt: the guy always seems to talk before engaging his brain. When he has engaged his brain it usually appears to be in reverse.
Gordon Brown's appointment of him to the government looked like a crass mistake from the moment it was announced. I am sure he is deeply regretting it because, as the FT has reported:
Digby Jones, the trade and investment minister, has warned that plans for a tax crackdown on non-domiciled foreigners living in the UK threaten London's role as a world finance centre.
The former CBI director general broke ranks with the official government line in a candid interview with the Financial Times.
I'm sure the prime Minister now agrees with my opening paragraph. I hope he sacks him. Not least because however crass the domicile proposals now made are (and they really aren't good enough) what Digby Jones is saying through his comments is that the UK is not good enough to compete without giving state subsidies to those wanting to come here. And that's straightforward rubbish.
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Many of those who will have to leave are NOT the super rich. We are those who have paid our UK taxes, created business, hired and trained people and contributing to the community in many ways.
Now we are faced with abandoning our community in the UK – our homes and friends. Many of us have had family money made available via inheritance, paying tax in the country where it originated and tax on remitting it to the UK. And now, with limited resources due to retirement that will not permit us to pay £30,000 penalty for making our lives in the UK, we must leave. The younger people we know will also leave. The revenue stream will not be improved but impoverished since there will not be the enthusiastic, talented and creative international community adding value to a country of their choice. Why would anyone make a life in the UK when they will ultimately pay taxes in their home country and again in the UK? There are many other comments I might make yet prefer to see what other readers may say. What a shame that the few ostentatiously rich are seen as the only non-domiciled when there are so many more professionals who only wish to retain some assets in their home countries without this double taxation. Other comments, please …..
Athena
This is nonsense
1) You sound like you haev adopted a British domicile
2) We don’t tax gifts on receipt
3) You don’t have to pay £30,000 – you just have to pay the tax we have to
4) If you don’t you’re not contributing to the community
5) There will be double tax in exceptional cases only
Get your facts right and stop the emotion.
And accept that living ina place means abiding by its law: the same law as those born in the place.
Richard