It has become clear that the Tories’ reliance on a reported £16 million from non-domicile donors shows why the Tories won’t back Labour’s plans to abolish non-dom status. The Tories are the political wing of the tax avoidance industry.
Kate Hollern, Labour’s Parliamentary candidate for Blackburn has pointed to the thousands of pounds the Tories are spending on their local election campaigns that have been funded by city bankers and financial speculators, many who have non dom status in order to avoid paying taxes in the UK.
Kate Hollern commented
“The Tories have failed dismally on tax avoidance. The tax gap is up, loopholes that benefit hedge funds remain open and now non-doms are being protected from paying their fair share of taxes”.
In addition, she said:
“Closing down the non-domicile loop-hole is the right thing to do. It’s important that people who live here and enjoy the benefits of our country make their fair contribution like the rest of us. As usual the Tories are putting the interests of a privileged few at the top, protecting their tax breaks, ahead of the interests of hard working people, who are worse off and paying more in tax under David Cameron.”