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M303 - Non-Dom Motion watch

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    M303 - Non-Dom Motion, The Rt. Hon. Rakas MP
    This House believes that 'trickle down economics' - that is the concept that attracting the super rich benefits the nation as a whole, needs a helping hand from the state to maximise the benefit of having the super rich in the UK. This House believes that parliament should employ a series of regulations designed to better the lot of the masses while at the same making every effort possible to attract the super-rich.

    In the 2011-2012 tax year 123,000 people registered for non-dom status (the practice of excluding their overseas income from UK taxes) and paid an annual charge of £50k per year for the privilege. I recommend that non-dom status be linked to a requirement to employ a minimum of 100 people full time in the UK. Any drop in the receipts from the annual charge resulting from a smaller number of non-doms will more than likely be made up for via income tax receipts from employment along with reduced welfare expenditure.

    http://www.ft.com/cms/s/0/1fd89cde-8...#axzz3OvW1dGj1
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    Aye.
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    I'd rather have a motion that's completely against 'trickle down economics'. This is a hedge which isn't going to do a great deal to solve the problem.
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    We don't really save on welfare under RI though, do we?
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    (Original post by Chlorophile)
    I'd rather have a motion that's completely against 'trickle down economics'. Having said that, I'm fine with a motion that forces the super-wealthy to give back more to society, but I'm not entirely sure if this is the best way. This doesn't really look like it's tackling the problem head-on, more like a hedge.
    I'm a Tory that believes one can have their cake and eat it. Such a motion was never going to come from me.

    (Original post by O133)
    We don't really save on welfare under RI though, do we?
    That's true and i should have thought of it. But a motion is not binding anyway.
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    (Original post by Rakas21)
    That's true and i should have thought of it. But a motion is not binding anyway.
    In which case I'm fairly undecided.
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    I cannot argue with the logic behind this. While the trickle-down theory doesn't solve every problem it is a welcome boost to have. I also prefer supply-side approaches to some social market theory.
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    (Original post by Chlorophile)
    I'd rather have a motion that's completely against 'trickle down economics'. This is a hedge which isn't going to do a great deal to solve the problem.
    I also generally disagree with the trickle-down rhetoric but I think what's proposed here will help the country.
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    Would we not get more tax form there people is we got rid of non-dom status.
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    100 people is far too many, 10 yes but 100 is far too much.

    Also NAY, a thousand times NAY! I'd rather they all left for the ME/Asia than continue to be non-doms in the UK and employ 100 for far much more than their tax bill may be.
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    (Original post by RayApparently)
    I also generally disagree with the trickle-down rhetoric but I think what's proposed here will help the country.
    If we're going to make a change to the law concerning this matter, we might as well make a change that actually tackles the root problem rather than trying to make the current situation a little bit less bad.
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    (Original post by Chlorophile)
    If we're going to make a change to the law concerning this matter, we might as well make a change that actually tackles the root problem rather than trying to make the current situation a little bit less bad.
    When I see that legislation I may very well vote for it - I'll even help draft it, in the mean time I'll vote for making the current situation a bit less bad.
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    Just get rid of the non dom status altogether

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    (Original post by tehFrance)
    100 people is far too many, 10 yes but 100 is far too much.

    Also NAY, a thousand times NAY! I'd rather they all left for the ME/Asia than continue to be non-doms in the UK and employ 100 for far much more than their tax bill may be.
    Actually I think that 100 seems too few, 1,000 seems a better number and 10:eek: that isn't even a drop in the ocean. It's a single water molecule or maybe just a hydrogen atom.
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