Ocado chief slams non-dom move

The co-founder of Ocado has said the business would not have got off the ground without funding from non-doms, becoming the latest business figure to criticise the government's crackdown.

Jason Gissing said: 'We are irritated because the Chancellor has increased capital gains tax in a knee-jerk reaction to criticism of the private equity industry. [The tax] actually penalises people like us who have started a business, created 3,000 jobs and created a new service. Then he says he’s going to penalise the nondoms who finance businesses like ours and get them off the ground.'

Ocado is understood to have raised half of its £300m start-up funding from non-doms, The Times reported. The business delivers Waitrose goods.

Separately, the paper reported that Tory donors had been furious about the party bringing up the idea of taxing non-doms, which it did prior to the government announcing its plans.

One donor said: 'When the Conservatives came up with the idea of a charge I know a lot of people were very, very annoyed because they felt that the party was opening up Pandora’s Box and giving Labour the opportunity to move on the issue.'

Further Reading:

Read The Times' story

That's enough non-dom nonsense