Claims that Treasury plans to soften non-dom crackdown are 'speculation not government policy'

Labour included a pledge to reform the tax breaks for wealthy residents who are domiciled overseas in its campaign manifesto, proposing to replace it with a "modern scheme for people genuinely in the country for a short period", while raising around £1bn a year from tougher measures. But yesterday (26 September), the FT reported that people familiar with the matter had said the Treasury had begun to get cold feet on the issue and had concerns that some of the measures being proposed would fail to raise any money. Consequentially, they claim that Labour was planning to backpedal on the...