Press Release
Budget - Non Doms Tax
12 March 2008
Commenting on today’s Budget announcement from the Chancellor to press ahead with a proposed £30k levy on non-domiciled UK residents, Harvey McGrath, Chairman of business organisation London First said:
"While the Government may feel that non-doms are an easy target for raising money, they risk throwing the baby out with the bathwater with these ill-considered proposals. London attracts the best talent from around the world. In increasingly difficult global economic conditions, the UK should be doing all it can to keep highly skilled talent, not beat them away. The Government pays lip service to promoting competitiveness, but has ignored business views about the negative effect this proposal will have."
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