Labour considers non-dom tax plan that would raise £1bn less than initial pledge
Party may allow non-domiciles to live in Britain for four years before ending tax break, it is understood
This actually is fairly sensible, and something like what Ed Milliband proposed in 2015. It's in the country's financial interest to have people come from abroad to develop businesses. Given that the US, India, China and lots of other fast growing economies have lower tax rates than the UK, it's not exactly and incentive if they've got to pay UK tax on their worldwide income. They can also choose to live somewhere else lower tax and visit for 89 days (think this still applies) and be non-resident.
I don't know where they numbers come from. Well, they're from Labour, but I don't know where they get them from. Is the figure net of behaviour change?
The downside of course is that it's still treating people as special because they have money, which isn't a very nice principle. Even if it would be better than now and end the nonsense whereby people like Sunak's wife in effect move permanently but carry on paying less tax for as long as they like.
And of course Labour look stupid for what they said before.