Jackson-Stops & Staff is the latest agency to enter the increasingly-vocal debate over Labour's taxation proposals outlined ahead of the May 7 general election.
In recent weeks Savills and Knight Frank have spoken out against Labour's proposed mansion tax; now Nicholas Leeming, chairman of Jackson-Stops & Staff, has gone public in criticising Labour's proposed abolition of non-dom tax status.
Non-doms are defined as British residents paying tax on their British earnings, but with permanent residences outside Britain. This means they do not need to pay British levels of tax on foreign earnings, so long as those earnings are not transferred into Britain.
Leeming says Labour leader Ed Miliband is intent on closing down London to international business by scrapping the tax perk.
The Labour party is out to target the wealth creators in this country and will effectively close down London to international businesses and investors if it continues to punish this sector Leeming claims.
We have created a world-class city and we want to continue to encourage people to buy homes here and invest in the capital. The move to scrap the non-dom tax status will impact on every aspect of life in the capital - jobs, the property market, shops, restaurants and businesses. London needs to remain open for business.
Comments
Abolishing non-doms will make no money and will have an adverse effect on business, property and other key areas of the capital. Our low tax, low regulation system is what makes us so attractive to overseas investment, why get rid of this to make a political point and appease the lefties
So this will mean we are less in thrall to big business and the rich It might mean property prices in London not heading into the stratosphere Well, it's got my vote. Great move, Ed.
More apologists for the rich. Leemings is talking absolute nonsense and he knows it. The abolition of non-doms doesn't suddenly mean everyone is going to up and sticks and leave in a huff. And, even if they do, they're probably not the sort of people we want in this country, people who want different rules because they've got much bigger bank balances.
No-one needs the sort of money these excessively rich non-doms earn. Oh no, how will they cope without that extra car or house And what's he going on about, saying this will affect jobs, shops, restaurants and businesses. Not ever business, shop or restaurant owner in London is a non-dom. In fact, if you added it up, very few would be. This is a small percentage of the population who aren't paying their fair share, stamping this out is the right thing to do.
77% of the population seem to agree with abolishing them, but of course high-end estate agents won't be keen for their precious super-rich to be unfairly treated like this.
Absolute nonsense! Blah blah wealth creators blah blah blah big business blah blah blah rich people upping sticks blah blah blah.
More self-interested rubbish from a high end agent. The non-dom tax status effectively means one rule for the super rich, another for all of us other plebs. It's a totally ridiculous and antiquated idea that should have been scrapped yonks ago. Other world-class cities don't have it and it doesn't seem to have affected them.
This is scaremongering, pure and simple. If a few (or more) wealthy investors throw a hissy fit and leave the country, good riddance. If they don't want to pay their fair share, then as Caroline Lucas said last night I'm sure plenty of people will be on hand to pack their bags. I'm sure Jackson-Stops & Staff (silly name, btw) have no vested interest in any of this, do they They're just worried that the super rich oligarchs and tax avoiders won't be buying up their overpriced houses anymore.