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07 Jan 2008
Lord Balfour has called for a rethink of changes to the non-domiciled tax rules, saying that the proposed new rules could 'kill the golden goose over time.'
Lord Balfour, the great-nephew of Liberal Prime Minister Arthur Balfour, says in a letter to the Financial Times today that drafting new tax rules 'is proving hard'.
Many non-doms are already contributing significant amounts to the Treasury, Lord Balfour says, who himself pursued a career in the City.
'There is widespread political agreement that wealthy migrants in the UK should contribute more by way of tax, but the mooted new rules could kill the golden goose over time.'
Lord Balfour also outlines what he sees as a more moderate approach to the problem.
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