It would be an “abject humiliation” for the Tories if they implemented Labour’s policy of abolishing non-dom status, the shadow cabinet minister Bridget Phillipson has said.
The abolition of the status, which gives generous tax breaks to some of the UK’s richest residents, has long been one of Labour’s headline policies, but the chancellor, Jeremy Hunt, is understood to be considering announcing a similar move in this week’s budget.
