Rachel Reeves makes shocking U-turn on non-dom tax rules
· 8h · on MSN
Rachel Reeves to soften non-dom tax changes
Rachel Reeves to soften non-dom reforms after listening to concerns
She is losing control of the public finances and pressure is now building for yet more tax rises or spending cuts. She needs to come back to the UK and get our finances on a sustainable footing'
Rachel Reeves to water down non-dom tax raid
Rachel Reeves is planning to water down her tax raid on ultra-wealthy non-doms after an exodus of millionaires from Britain.
Rachel Reeves has been accused of a “Davos deal for millionaires” after announcing she was watering down moves to make wealthy foreigners pay more tax. The chancellor said she had been “listening to the concerns” of “non-doms” living in the UK.
“Rachel Reeves is thinking the right way but she’s in a difficult position,” said a senior UK bank executive in Davos . “Labour in the UK have made a lot of good decisions but it is very hard for them and the [bond market] challenges of last week reinforce that issue.”
That left Rachel Reeves, Britain’s chancellor, with an uphill task when she arrived at the Swiss alpine town to court investors at the annual meeting of the World Economic Forum. She met a raft of Wall Street bosses,
The Conservatives says the Chancellor is ‘deeply out of her depth' and says she must immediately return to Britain.
British finance minister Rachel Reeves plans to introduce new budget measures in March if needed to adhere to fiscal rules, emphasizing caution before the OBR's forecast. Economic data may push for further actions following tax increases and increased borrowing,
For a Labour chancellor it was a bold move: Rachel Reeves went to Davos and told an audience of global plutocrats that she wanted to make their lives easier by creating a riskier regulatory environment for UK consumers.
Rachel Reeves, halfway up a mountain amid the snow and fresh air of Switzerland, is staging a fightback against criticism of her sluggish growth agenda at home.
Chancellor of the Exchequer Rachel Reeves joked about Elon Musk’s online “trolling” of world leaders, in a break from the UK government’s careful efforts to avoid responding to frequent criticism from the close Trump ally.
British Finance Minister Rachel Reeves will urge company bosses at the World Economic Forum meeting in Davos, Switzerland, to invest in the UK, emphasising its political and economic stability and pro-business government,
It added to the gathering gloom over the economy at the start of the year as supermarket chain Sainsbury's yesterday revealed a cull of jobs while Primark said its sales were suffering.
3h
Donald Trump (pictured) delivered his much-anticipated video address to the self-styled global elite at the World Economic Forum in Davos.
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