Bloomberg: Scrapping non-dom status was 'totally wrong' and unfair

Ahead of the Chancellor's Spring Statement, business leader, philanthropist and Phones 4U founder John Caudwell shared his assessment on the state of the British economy on Bloomberg TV.

Presenter Tom Mackenzie asked Caudwell, a lifelong Conservative who voted Labour for the first time at the last election, how he would grade the Government to date. Other topics included how the UK can capitalise on the US brain drain, the need to cut state spending (though not in the same fashion of Elon Musk's DOGE), and changes to non-dom status.

The last, according to Caudwell, is "totally wrong":

"It was wrong on two issues. It was wrong financially for the country, and it was wrong from a fairness point of view.

"Let me put the fairness point of view first. First of all, if people came to the UK two or three years ago for non-dom status and most of their worldwide earnings had been achieved somewhere else, why should they have to pay tax on their entire earnings suddenly, two years later?

"That's not fair. It's not fair, it's not right. But equally, it's driving them back to places like Milan and Monaco and Dubai, and we can't afford to lose those moneymakers."

✅ Also follow John on:

Instagram/Threads - @johncaudwell
LinkedIn - @johndcaudwell
TikTok - @johndcaudwell
Twitter/X - @johndcaudwell
Facebook - @johndcaudwell
BlueSky - @johncaudwell.bsky.social

Website - https://johncaudwell.com/


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