Re-think on non-doms

Today's Times reports that Alistair Darling may re-think his plans to tax non-doms:

The Treasury is understood to be looking at possible concessions after a wave of protests raised fears of an exodus of wealth-creating foreigners from the City.

Officials were examining the detail of the proposals and looking at ways of “making clarifications”.

The Times understands they are considering introducing provisions to assure non-doms that the Treasury’s aim was not to pry into their world-wide tax affairs, but only to tax the earnings they bring to Britain.

If so, this climbdown is a sensible move. But what a way to make tax law. And how much damage will have been caused to the Government's relationship with overseas wealth creators, who will surely now regard Britain with more distrust than ever before? 

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