Today Ed Miliband has announced with all guns blazing that the Labour party will abolish non-dom status if they are elected in May. The party has labelled the current non-dom tax rules as ‘ridiculous’.
However, according to an interview Ed Balls gave earlier this year, cutting it would ‘cost Britain money’. Even if this is the case Labour doesn’t appear too rattled, seeing this as a moral point rather than just a financial one.
Still, Mr S couldn’t help but recall the £5.1 million Labour accepted from the non-dom donor Lakshmi Mittal. The steel tycoon multi-millionaire is a British citizen with non-dom status as his company ArcelorMittal is largely based in Luxembourg.
Steerpike has contacted Mittal to see what he makes of the proposals. Alas, a spokesman for Mittal declines to comment.
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