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No evidence that scrapping non-dom status would cost UK £350m, Treasury admits

Missing analysis casts doubt on claims published in Telegraph and puts pressure on Rishi Sunak over billionaire loophole

By Adam Bychawski
No evidence that scrapping non-dom status would cost UK £350m, Treasury admits
Starmer has accused Sunak of siding with billionaires by refusing to scrap the loophole. | Pexels / Justin Tallis / Christopher Furlong / Getty
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There is no evidence for claims that Labour’s policy of scrapping non-dom status would contribute to an annual tax loss of £350m, the Treasury has admitted.

The Tories have previously poured cold water on Labour’s proposal, with health secretary Steve Barclay claiming earlier this month that the policy would cost the public purse more than it would raise by deterring investment, echoing an “internal Treasury analysis” made public in the Telegraph newspaper.

But the Treasury itself has now told openDemocracy that no such assessment of the non-dom policy was ever made.

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