Member

We on the Conservative Benches welcome inward investment; we back wealth creators and risk takers. As this Government are chasing growth, one would think they might be sending a message that Britain is open for business. However, the plans for non-doms, including inheritance tax, have already caused a significant exodus of investors from the UK. Last year, more than 10,000 net millionaires left the country—a 157% increase on the year before. According to the Adam Smith Institute, that is equivalent to losing the income tax take of more than half a million average taxpayers. We discussed this in Committee.