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Sunday, November 29, 2009

Non-Doms for Cameron

Oh dear, this is not going to go down too well in the leafy suburbs of Richmond, Surrey. Zac Goldsmith, who was the Tories big hope to take the seat back off the Liberal Democrats, the green advisor to David Cameron and who was even being touted as a possible future Minister, has admitted that he claims non-domicile tax status, enabling him to avoid huge sums of tax on his estimated £200m fortune:

In a disclosure that risks embarrassing the Conservative party, he confirmed that he is a “non-dom” who can legitimately escape paying tax on his inheritance from his late father, Sir James Goldsmith. Much of it is held offshore.

This weekend Goldsmith, the Tory candidate for Richmond Park, told The Sunday Times that he plans to give up his non-dom status next year. The general election must be held by June.

The Tories have criticised non-doms for avoiding tax. George Osborne, the shadow chancellor, has pledged to impose a £25,000 annual levy on their wealth. Lord Ashcroft, the party’s biggest donor, is under pressure to confirm his tax status to comply with promises made when he took a peerage.

The Sunday Times says that Goldsmith Senior was Anglo-French but that Zac was brought up in the UK, mostly in the southwest London area where he is now standing for election. His campaign website states: “Zac grew up in Richmond and went to school in Richmond. He has lived in Richmond most of his life.”

Perhaps he should now add to that claim the fact that his status means that he has so far failed to pay tax in Richmond on the hundreds of millions of pounds of income earned offshore, nor has he paid capital gains or inheritance tax on his overseas assets.
Does this mean that he is committing an offence by contributing to his own election campaign funds?
No. He is a registered voter and is resident in this country. His tax status as a nom dom in fact relates to an off-shore trust that holds much of his wealth.
I could not care a dam actually, I'm worried that I might well get my DLA, Disability living Allowance stopped by New labour to pay for care I do not need, but of course Labour will save 8.5 billion, while the cripples and sick people can do as some think we should do any way starve to death.

The problem is people think I'm interested in one millionaire when in fact I'm fighting for my life.

I notice not much said from the Lib Dem's to day, but the Tories and Plaid said they would do what they could to stop labour.
Robert does raise a good point.

Unfortunately, we have to look at the 2001 census and see that areas that are likely to be non-labour, such as the Pen-y-fai ward in Bridgend County has 16.7% of the ward population with a "limiting long term illness".

c.f the Labour voting ward of Bettws, also in Bridgend with 31.8% of the population with a limiting long term illness, or Caerau, Bridgend County with 30.8%.

So, it doesn't matter to the Labour Party if those on DLA, AA or Incapacity have their benifits cut or stopped, since they will still get voted in, in these wards anyway!

Anyway, £8.5 billion, the tax payers of the UK have already lent the banks £6.16 Billion on the quiet anyway.
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