Business and Politics

Tory Party – Relic from 18th Century

It has been quipped that the Tory MP Rees Mogg is the MP for the 18th Century – but the latest revelation about Rishi Sunak’s wife confirms that many of the conservatives rely on 18th Century values.

The concept of non-domicile status for UK tax purposes dates back to legislation introduced to protect the income plantation owners during the 17th and 18th century. Allowing them to retain income made abroad and protect it from UK taxes. This arrangement has been justified by economists as it allows these super rich people to live in the UK and for the government to receive tax revenue from expenditure and any uk income.

Needless to say this is a very British solution and you might be excused for thinking that it seems to favour the ultra rich over the average Joe in he UK. But once again the argument is that the country benefits from these super rich living in the UK – but surely they should not be involved in running the country?


Leave a Reply

Your email address will not be published. Required fields are marked *