BREAKING: Ed Miliband on campus to speak about plans to scrap non-dom rule
Labour Party leader Ed Miliband is visiting the University of Warwick campus to give a speech laying out his plans to abolish the non-domicile rule should his party win May’s General Election.
A Labour Government would allegedly abolish the policy, which currently allows for a lower rate of income tax on earnings abroad, arguing that it “can no longer justified”, according to Politics Home.
The speech has been organised by the Labour Party to take place at Warwick Manufacturing Group (WMG) International Digital Laboratory at 10.15am on April 8, and is only open to members of the Labour Party to attend.
‘Non-domiciled’ residents are people who reside in the UK, but who recognise their permanent home to be outside of the UK.
Residents are exempt from paying tax on foreign earnings below £2,000 per year, or earnings that are not brought into the UK (e.g. via transfer to a UK bank account).
If income abroad exceeds £2,000 a non-domiciled resident can avoid paying tax on it, by paying an annual charge of £30-50,000 depending the number of years the resident has been living in the UK and earning abroad.
The rule is estimated to affect around 115,000 people.
Miliband is expected to say that the rule is derived from a mentality that “anything goes for those at the top and that what is good for the rich is always good for Britain”.
The Coalition increased the annual fee charged to non-domiciled residents during their term, but Labour are to point holes in the ability of residents to avoid paying the charge if they save their money in a foreign bank account.
LIVE UPDATE:
11.25: Opening his speech at Warwick by emphasising the importance of responsibility in society, Miliband goes on to comment on tax issues:
"We don't compete in the world by offering tax advantages that we don't offer to those at home" – @Ed_Miliband #MilibandonCampus
— The Boar (@WarwickBoar) April 8, 2015
11.35: Miliband calls on the Conservative party to get rid of the the non-dom rule, commenting:
Call to the Conservative Party from Miliband: "Stop defending the indefensible and abolish the non dom rule" pic.twitter.com/x10Ny6iF82
— The Boar (@WarwickBoar) April 8, 2015
11.40: Wishes expressed by the Labour leader for a single-ruled country:
"We're going to run a country where there's one rule for all." – Do you trust @Ed_Miliband on this promise? pic.twitter.com/uhbenUFob5
— The Boar (@WarwickBoar) April 8, 2015
11.54: Miliband receives a standing ovation after revealing his policies:
Would you give Miliband a standing ovation after his non-dom policy reveal? #GE2015 #MilibandonCampus https://t.co/wBXmPw3dYF
— The Boar (@WarwickBoar) April 8, 2015
– A range reactions were caused by Miliband’s visit to campus:
ED MILIBAND ON CAMPUS: this is the best day to be a politics student pic.twitter.com/1bNoApp1af
— Ryan Watts (@ryanleewatts) April 8, 2015
Ed Miliband spoke at Warwick. He's strong. pic.twitter.com/LrPQSGsqAq
— Chloe Wynne (@chloewynne) April 8, 2015
Ed Miliband at Warwick Uni… Not good!! #no #LabourChaos #WarwickUni
— Cordelia Stephens (@Dilly_Stephens) April 8, 2015
Apparently Ed Miliband is on campus. That's cool. So am I. Hi Ed.
— Sian Elvin (@SianElvin) April 8, 2015
When I'm on campus: fire alarm goes off. Not on campus: Ed Miliband turns up. I'll blame the U1, works every time #MilibandonCampus #GE2015
— Karishma Jobanputra (@KarishmaaDJ) April 8, 2015
Apparently Ed Miliband has just arrived on campus. Fancy a bacon sandwich all of a sudden
— Helen Curtis (@helencurtis) April 8, 2015
@WarwickBoar He might try to get more money to the poor but I think he'll make the country poorer as a whole
— Matt Hayward (@Chimpy20) April 8, 2015
12:10: Miliband continues his speech with comments on a different set of rules for those at the bottom than there are those at the top, “We say we will guarantee jobs but people have the responsibility to take those jobs. We believe that responsibilities apply throughout our society.
“We are not applying this to the top. We believe in one rule for all. Not one for the rich in society and one for the poor.”
Student Laura Dickens added: “I only joined Labour recently because I feel like Ed really cares about people, which shone through today.”
Student Laura Dickens added: "I only joined labour recently because I feel like Ed really cares about people, which shone through today."
— The Boar (@WarwickBoar) April 8, 2015
Miliband remarked that it is understandable why so many use the nom dom status, “I do not blame these individuals for taking advantage of non dom status. This has been a failure of governments of all parties for the past 200 years.
“I say it is time to end all of this years of history.
“These rules are so old fashioned it does not matter where your mother was born.”
Ed Miliband has said he wants to hit non-doms. Admire his honesty but never thought he'd court the BDSM community quite so openly.
— James Evans (@jamesevans42) April 8, 2015
Miliband stated: “Some people will say if we change the rules people will leave the country, just like they used to say we cannot act on banks as they will leave the country. It’s the same outdated idea.
“We don’t compete in the world by offering tax advantages that we don’t offer to those at home”.
He added that there was a moral reason for the abolishment of the non dom rules, “It is a very British principle and it is the right principle for the future of our country.”
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