Non-doms and other tax dodgers
A row about tax exiles has erupted again. The main point made is that people with huge fortunes round the world should pay UK tax if they are UK citizens. Why?
If Lord Ashtray is making his money from investments in Belize then why should the British Chancellor have any claim on it? If he lives in or has investments in Belsize Park, then he should be paying the rental value of that land to the British government, which defends his title to the land and provides infrastructure that help to sustain most of that value.
The government of Belize should be collecting the rental value of the land he owns in that country, since it is their entitlement. Any earnings over and above the rental value of the land that he holds belong wholly to Lord Ashtray himself, wherever he chooses to live.
Under the LVT system that we advocate, the UK Chancellor gets all the money he is entitled to, the Belize government get theirs, and nobody could avoid it by becoming a tax exile.