Rachel Reeves asked if she ‘underestimated’ number of wealthy individuals contributing to economy following shift on non-dom status
Rachel Reeves asked if she ‘underestimated’ number of wealthy individuals contributing to economy following shift on non-dom status
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Hebe Campbell | Sunday 26 January 2025 09:34 GMT. Watch as ChancellorRachel Reeves is asked whether she underestimated the number of wealthy individuals who contribute to the UK economy, after announcing plans to amend her proposal to abolish non-dom status. The changes will allow for a more generous phase-out of tax benefits, Reeves revealed.
Speaking at the WEF, she explained that upcoming legislation will include provisions to make it easier for non-doms to repatriate their funds to the UK. When BBC’s Laura Kuenssberg questioned whether Reeves had misjudged the potential number of wealthy people leaving the UK due to her policy, the Chancellor responded, “It makes it easier for people to bring money in from overseas for economic growth.”.
