Voters go to the polls in a general election in Britain today. Inequality has been a key theme of the campaign, especially for the Opposition Labour party. It has been getting some traction from one policy in particular: a plan to close a tax loophole. It’s called the “non-dom” rule. Currently, more than 100,000 wealthy people living in Britain classed as non-domiciled or non-dom and not required to pay tax on money they earn abroad.
Leader of the Labour party Ed Miliband promises to abolish the rule if elected. Miliband’s pledge is proving popular with the public, and has even struck a chord with some Conservative politicians. Richard Bacon, a Conservative member in a parliamentary committee sides with Miliband.
But the non-doms have their defenders. In the most affluent part of London, we caught up with Russian property specialist Roman Grigrjev. He deplores the Labour plan.
“What good is it to make London poor? You don’t get the country richer by restricting London from becoming richer,” Grigrjev says.
Treasury Minister Pritti Patel agrees with the property specialist. Patel surmises it could cost the Treasury billions. “These non- doms will probably leave the country . There is no evidence that this will bring in substantial sums of money whatsoever,” Patel states.
Labour says it must uphold a vital principle of fairness and equality in taxation, whatever the cost. And we’ll have to see how this move pans out in today’s results.
Click on the multimedia player above to hear more and click here to read our breakdown of the general election.
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