Britain’s Labour Party released its long-awaited manifesto today ahead of the July 4 election with promises to increase tax on private equity earnings and abolish ‘non-dom’ status for UK residents whose permanent domicile is outside the UK for tax purposes. The changes are aimed at increasing funds in government coffers and balancing spending plans.
Law firm partners who spoke to Law.com International generally expect Labour to win a majority government in the summer election after 14 years of Conservative rule, so the manifesto may well become UK government policy.
