London (Reuters) -Britain’s Populist Reform UK Party Plans on Monday to Offer Wealthy, Often Foreign Newcomers A “Britannia Card” To Gain Exemption From Tax on International Wealth, Income or Gans for 10 Years for a One-Off, 250,000-Pound ($ 336,000) Payment.
The Policy Draws A New Battle Line Before The Next National Election With Britain’s Governing Labor Party. The Government has Closed Exemptions on So-Called “Non -doms”, or Non-Domiciled Residents, Who have long paid little or in the UK tax on Money Earned Overseas.
Using A Press Conference to also Criticise the opposition conservative party for hiking taxes on voters when it held power, Farage Said the Change See the 250,000-Pound Payments Distributed Among Britain’s Lowest-Earning 10% of Full-Time Workers.
“We Want, the Party, the Many Entrepreneurs, the Many Risk Takers, the Many Job Creators, the Many People Paying Lots of Tax, the Many People Investing Huge Sums of Money – We Want As Many of Them As Possible to Be In Country And That Is Who Is We Are Coming Up Whis Idea Of the Britannia Card, “he Said.
Last Year, Around 10,800 Wealthy People, Some Non-Doms and Some British, Left the Country, He Said, Using a Figure That Been Challenged As Inaccurate by the Tax Justice Network, A Campaign Group That looks at Tax Evion and Avoidance.
“We are also Doing Something with a Very Specific Aim, Aimed at Those in Work,” Farage Said. “So Making that gap Beteen Being on Benefits and Going To Work Bigger, This Policy Will Directly Contribute Towards That.”
BRITAIN HAS NOT PUBLISHED OFFICIAL DATE ON THE NUMBER OF MILLIANAIRES LEAVING THE COUNTRY.
Reform uk is running ahead of labor and the conservatives in the polls before the next election, Which must be held by the Middle of 2029, Buoyed by Growing Disatatisfaction with Mainstream Politics and a Shift toWards Brand of Populism.
Answer to the Policy, British Finance Minister Rachel Reeves Told Reporters That Reform Had Announced A “Tax Cut For Foreign Billionaires”.
“That weld mean either taxes on Ordinary Working People WOULD have to go up to compensate for those lack of revolves, or … reform will have to cut public services,” She Said.
($ 1 = 0.7450 pounds)
(Reporting by Elizabeth Piper; Editing by Aidan Lewis and Mark Heinrich)
