High Net Worth Individuals

Part of Treasury – in the House of Commons at on 1 July 2025.

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Photo of James Murray James Murray The Exchequer Secretary

My hon. Friend is absolutely correct that our changes to the non-dom reporting regime are essential to raise billions of pounds to support the public finances and get our public services back on their feet. I contrast that with some of the proposals set out by Opposition parties. Indeed, Reform UK’s plans are for a tax cut for foreign billionaires.

opposition

The Opposition are the political parties in the House of Commons other than the largest or Government party. They are called the Opposition because they sit on the benches opposite the Government in the House of Commons Chamber. The largest of the Opposition parties is known as Her Majesty's Opposition. The role of the Official Opposition is to question and scrutinise the work of Government. The Opposition often votes against the Government. In a sense the Official Opposition is the "Government in waiting".