Financial Times FT.com

UK Budget 2008 - Wish list

TUC: Abolish tax advantages for non-doms

By Brendan Barber, TUC General Secretary

Published: March 5 2008 15:57 | Last updated: March 5 2008 15:57

When Alistair Darling gives his first Budget as Chancellor, the TUC is hoping that he stands firm on his proposals for the non-domicile tax regime. Indeed, we would like him to go further and abolish non-dom arrangements altogether. This would end the unfair tax advantage non-dom owned companies have over those owned by standard UK taxpayers. It would also address the growing popular perception that the wealthy play by different tax rules to the rest of us. A perception which has been greatly reinforced by the recent high profile City lobbying of the Chancellor.

Other desirables include the introduction of a green windfall profits tax on the energy companies that would allow the Government to use the proceeds to increase spending on tackling fuel poverty, improving home insulation and other environmental and job creating initiatives. Also increasing the weekly limit on statutory redundancy pay from £330 to £500 would be a major step towards restoring the real value of the limit. When it was first introduced in 1965 it was £40. If the limit had been updated in line with prices it would now be a little over £500, and if increased in line with earnings it would now be in excess of £1,000.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this