The Adam Smith Institute's comment on non-dom tax provisions was quoted in The Daily Telegraph:
However, experts have attacked the proposals, warning that scrapping the non-dom tax status could lead to an exodus of top talent from Britain and "put the UK's international reputation at risk".
The Adam Smith Institute has said the plans risked "cutting off the country's nose to spite its face", while Simon Walker, director general of the Institute of Directors, said: "There is a serious risk that large numbers of the international financial community, who have headquartered themselves in London at least in part because of our tax regime, will now exit the country."
ASI briefing paper “Non-Sense: Examining the arguments and rhetoric around non-dom tax provisions“debunks the oft-quoted claims being made by politicians about non-doms and highlights the potential financial risks associated with Labour’s proposed changes to the rules.
The paper explains how Miliband’s proposed changes to the tax rules could cut government revenue, drive away investors and risk hurting middle-income migrant workers registered as non-domiciled in the UK.