Deemed domicile: review of protection of overseas trusts

Part of Finance Bill – in the House of Commons at 2:45 pm on 31 October 2017.

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Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General 2:45, 31 October 2017

My right hon. Friend is entirely right and pre-empts the point that I was about to make, which is that it is quite wrong of the Opposition to castigate all non-domiciled individuals in this country and to characterise them as tax dodgers. In fact, the hon. Member for Bootle made the point that there are over 100,000 non-doms in the United Kingdom. The vast majority of them do not have lots of overseas assets or may have no overseas assets; they are not opening up trusts and putting assets in them. They simply come over here, sometimes for a couple of years or so, to work and contribute to our economy.