12
Mar
08

British Government Drives Away Rich Foreigners.

Liberals love class war.

In a rather puzzling move, the Labor government is imposing a harsh annual tax on rich foreigners who have moved to the United Kingdom. These “non-doms” have been hugely beneficial to the British economy, but Gordon Brown’s greed for more money and penchant for class-warfare tax policy means that these geese with golden eggs are starting to move away. Russiatoday.com reports:

The UK Government has announced that non-domiciles will have to pay a flat tax rate of $ US 60,000 a year on their foreign assets. For the extremely wealthy, like Russian billionaire Roman Abramovich, it will be a petty change, but for many foreigners the new tax will be a burden. …Many say the levy is unfair and as a result some of them will leave the country in favour of other tax heavens. This, in turn, will have a knock-on effect on the economy. It’s doubtful the tax refugees will include the likes of Britain’s wealthiest man Lakshmi Mittal or Chelsea FC’s owner Roman Abramovich. For them – 30,000 pounds a year is pocket change. However, for those who earn around 200,000 pounds a year it does make a difference. …The levy is set to be introduced on the April 5, but some businessmen and entrepreneurs are already leaving.

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