Farage's flat tax plan is bold but he risks being outflanked by Labour or the Tories
When Nigel Farage decides to intervene on an issue it's because he's spotted a weakness at the heart of his opponents' policies. The timing of these interventions is one of his greatest strengths and yet, despite his background as a City metals trader, his speeches on economics have not been prolific or his most fertile ground.
With his intervention into the non-dom debate, one senses Farage smells the blood of his opponents, not just the Chancellor Rachel Reeves, but the shadow chancellor Mel Stride too.
The reason for this is that the flood of extremely wealthy individuals leaving the UK is the result not just of Labour government policy but the work of successive Conservative chancellors before them.
The definition of non-dom can be technically nuanced. Put simply, for most cases it means people of foreign birth living in the UK but not considered domiciled here because they will eventually return home.
The important part for non-doms was that using a 'remittance' tax payment meant they would pay British taxes on their income within the UK but not on their income outside the UK. All of this came to a shuddering halt in April of this year, and while there are some transitional arrangements in place, many non-doms are not hanging about to face higher tax bills.
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