Read more at The Guardian.
Labour crackdown on non-doms may raise no money, officials fear
Exclusive: Watchdog may conclude that emigration of wealthy individuals could actually cost Treasury revenue
Keir Starmer’s promised tax crackdown on non-doms could yield no extra funds for the Treasury, leaving a £1bn hole in the government’s planned spending for schools and hospitals.
Labour planned to use the money raised from wealthy individuals who are registered overseas for tax purposes to invest in ailing public services.
But the Guardian understands that Treasury officials fear estimates due to be released by the government’s spending watchdog may suggest the policy will fail to raise any money because of the impact of the super-rich non-domiciles leaving the UK.
Continue reading...Date: |
-
BBC News - Top stories
Treasury reconsidering Labour plan for non-dom tax status
This is on account of concerns over how much money will be raised, should wealthy foreigners simply leave the UK.1 hour ago -
Financial Times - Business
UK chancellor ready to water down planned tax raid on ‘non-doms’
Rachel Reeves had hoped to raise £1bn a year by toughening a proposed Tory crackdown on wealthy foreigners1 hour ago - United Kingdom -
Yahoo Sports - Sports
Doughty’s Injury Could Be Worse Than Initially Feared
Update on Doughty appears injury may be worse than expected5 hours ago -
Inc. - Business
New California Law to Require Influencer Parents to Set Aside Money for Their Kids
Influencers in California who include their children in posts will now have to put money away for them.1 hour ago - California -
NBC News - Top stories
Harris may have locked down her first electoral vote this week
Private Democratic polling played a role in a key Nebraska legislator rebuffing Trump's push to change state law to benefit himself.3 hours ago -
The Wall Street Journal - Tech
Science Editors Raise New Doubts on Meta's Claims It Isn't Polarizing
The editorial warns that Facebook’s changes after the 2020 election may have swayed the conclusions of a prominent study.52 minutes ago -
The New York Times - World
Cyber Attack Displays ‘Islamophobic’ Message on U.K. Trains, Officials Say
The British authorities are investigating after commuters at 19 train stations saw an Islamophobic message when they tried to log on to a public Wi-Fi system.3 hours ago -
The Guardian - World
China’s newest nuclear submarine sank in dock, US officials confirm
Loss of state-of-the-art vessel in May or June is setback to Chinese push for naval parity with US. China’s efforts to achieve maritime military parity with the US have suffered a serious blow ...1 hour ago - China -
MarketWatch - Business
Presidential race’s winner may not be clear on election night. Here’s how investors can prepare.
The winner of the tight White House race won’t be determined on the night of Nov. 5, a UBS strategist said Thursday, but investors have a way to get positioned for that.1 hour ago
More from The Guardian
-
The Guardian - World
Middle East crisis live: Israel says it has hit 220 Hezbollah targets as diplomats gloomy over ceasefire prospects
IDF says more targets being hit in southern Lebanon; Benjamin Netanyahu showing no signs he is willing to agree 21-day ceasefire with Lebanon. Lebanon ’s National News Agency reports that trade ...17 minutes ago - Israel -
The Guardian - World
Harris decries Trump’s ‘proposals of surrender’ as Zelenskyy visits White House
Democratic nominee calls Republican plan to end war between Ukraine and Russia ‘dangerous and unacceptable’. Kamala Harris, the US vice-president, has indirectly denounced the Trump campaign’s ...21 minutes ago - Ukraine -
The Guardian - World
Hurricane Helene strengthens into category 3 storm as it heads for Florida
Storm is expected to be category 4 when it makes landfall, making it one of the most powerful to hit the US this year. Tell us: have you been affected by Hurricane Helene? A storm barreling ...3 hours ago - Florida -
The Guardian - World
China’s newest nuclear submarine sank in dock, US officials confirm
Loss of state-of-the-art vessel in May or June is setback to Chinese push for naval parity with US. China’s efforts to achieve maritime military parity with the US have suffered a serious blow ...1 hour ago - China -
The Guardian - World
Keir Starmer to meet Donald Trump in New York in push for good relationship
PM will meet Republican candidate on Thursday evening but was not able to schedule meeting with Kamala Harris. Keir Starmer is meeting Donald Trump in New York as part of a push to establish a good ...33 minutes ago - New York