logo
Allegra Stratton: Will Rachel Reeves Undo the Non-Dom Mess?

Allegra Stratton: Will Rachel Reeves Undo the Non-Dom Mess?

Bloomberg18-06-2025

In the Treasury right now, hot and bothered civil servants will already be working away on options for the autumn Budget.
But there'll be a worry in the back of their minds. Rachel Reeves has already U-turned on one signature spending cut, the winter fuel allowance. There are now whispers of another: the possibility of a reverse ferret on one of her tax rises, the abolition of the perks of non-dom status.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Veterans railcards could extend to family in new ‘legal duty' for armed forces
Veterans railcards could extend to family in new ‘legal duty' for armed forces

Yahoo

time12 minutes ago

  • Yahoo

Veterans railcards could extend to family in new ‘legal duty' for armed forces

Families of veterans could receive cut-price train fares of their own as part of proposals to strengthen the UK's military covenant being considered by ministers, it is understood. Eligibility for the special railcard, which provides a discount of one third on most tickets, could be extended under plans to offer more support to the armed forces community. Under existing rules, spouses of veterans can be offered concessions when travelling as a companion to the cardholder, but cannot use benefits independently. It comes as Prime Minister Sir Keir Starmer confirmed plans to place a 'legal duty' on all Government departments to consider the needs of military personnel and their families when making policy. Number 10 said more details of the measure would be set out in due course, but could include initiatives such as extending travel benefits to the families of veterans and the bereaved. It is understood that one proposal being considered is the extension of the veterans railcard to family members, though no decisions have been made. Sir Keir earlier met trainee pilots and their families as he visited RAF Valley on Anglesey in North Wales, to mark Armed Forces Day. He said: 'Across the country and around the world, our service personnel and their families make the ultimate sacrifice to keep us safe and protect our freedom and our way of life. 'When I became Prime Minister, I made a promise to serve those who have served us. 'Through the new Armed Forces Covenant, we are delivering on that promise, ensuring our service personnel, veterans and their families are treated with the respect they deserve, that is our duty. 'Our Armed Forces Covenant will put our armed forces community at the very heart of government decision-making. 'Their courage, duty, and sacrifice are the foundation of our national values, and they deserve nothing less.' Labour pledged in its manifesto to fully implement the Armed Forces Covenant, which supports the military community through a range of initiatives and grants. Under the new legislation all areas of Government will for the first time have to have 'due regard' in decision-making for the unique circumstances and position of the armed forces community, Downing Street said. Currently this is only legally required in areas of housing, healthcare and education at local level, meaning it does not apply to central Government. The extension will cover policy areas including employment, immigration, welfare, transport, pensions, childcare and criminal justice. The Government aims to make the changes in the next Armed Forces Bill, one of which is required every five years. The last Bill was passed in 2021. It comes ahead more than 200 events expected to take place across the UK to mark Armed Forces Day. The town of Cleethorpes in Lincolnshire will host this year's annual national event, and is expected to welcome 200,000 visitors. It will feature a military parade with personnel from the Royal Navy, British Army and the RAF's Red Arrows, including music from the British Army Band Catterick and the Band of the Coldstream Guards. A flypast by Chinook helicopters and historic aircraft from the Battle of Britain Memorial Flight will take place above the town's beaches, as well as a fireworks display and a concert by military musicians. Defence Secretary John Healey, who will attend the celebrations, said: 'On Armed Forces Day the nation unites to thank our armed forces: our service personnel, our reservists, our veterans and our cadets. 'This is the day we celebrate all they do, in ordinary and extraordinary ways, to make Britain secure at home and strong abroad. 'We're matching our words with actions, committing an extra £1.5 billion to fix forces' family housing this parliament, the largest pay rise in over 20 years for personnel, and bringing the Armed Forces Covenant fully into law. 'Our government's plan for change is renewing the nation's contract with those who serve.' The Ministry of Defence has also announced that the bidding process for next year's Armed Forces Day national event will open next week on Tuesday. Local authorities can apply for up to £50,000 in funding to host the celebrations.

Longtime Ferrari Boss Might Be Working for McLaren
Longtime Ferrari Boss Might Be Working for McLaren

Motor 1

time23 minutes ago

  • Motor 1

Longtime Ferrari Boss Might Be Working for McLaren

Luca Cordero di Montezemolo is one of the most important people in Ferrari's history. He first worked for the Formula 1 team in the 1970s and joined the company again in 1991, becoming Enzo Ferrari's successor. In his tenure, which lasted until 2014, Montezemolo oversaw a transformation in Ferrari's road-car business and its most dominant period in F1. Now, it seems he's working for Ferrari's closest rival—McLaren. A Reddit user noticed earlier today that Montezemolo was just listed as a director for McLaren Group Holdings Limited on Companies House, the British government agency that maintains a registry for companies in the country. We've reached out to McLaren Automotive for comment. McLaren Group Holdings Limited controls McLaren Automotive, the road-car division of the famous British brand. Abu Dhabi investment firm CYVN Holdings purchased McLaren Automotive last December and merged it with Forseven, a UK EV startup it also owns. Last month, McLaren Automotive announced Forseven CEO Nick Collins would take over as chief executive for the supercar company. Collins was formerly head of R&D for Jaguar Land Rover. As of right now, it seems like Montezemolo won't have anything to do with McLaren's F1 team, which is still controlled by the Bahrain-owned McLaren Group. Under Montezemolo's tenure, Ferrari's road car business went from malaise to the envy of the automotive industry. The cars that came out during his 13 years at the company are among the best it's ever made—F355, 550, F50, Enzo, 599, 458, F12berlinetta, LaFerrari, and more. He also hugely boosted sales with the California while pushing more limited-run and one-off models too. CYVN wants to turn around McLaren Automotive's business. With Montezemolo on board, it has someone that did the same with Ferrari with panache. Source: Companies House via Reddit Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )

The U.K.'s Millionaire Expat Exodus
The U.K.'s Millionaire Expat Exodus

Wall Street Journal

time27 minutes ago

  • Wall Street Journal

The U.K.'s Millionaire Expat Exodus

Taylor Swift wrote 'So Long, London' after a breakup with a Brit, and the city's wealthy expatriates may be humming along as they pack their bags. Evidence continues to emerge that the Labour government's tax increases are driving valuable taxpayers out of the United Kingdom. Chancellor of the Exchequer Rachel Reeves unveiled a budget last autumn that penalized wealthy foreigners for committing to a long-term relationship with the U.K. Gone were provisions that had shielded overseas earnings and estates from British inheritance, income and capital-gains taxes.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store