Direct Tax and National Insurance Contributions

Lord Foulkes of Cumnock Excerpts

Tuesday 25th October 2022 Lords Chamber

[Viscount Younger of Leckie (Con)]

First, on a serious note, we are very aware of the issues that many people are having to deal with at the moment, with the rising cost of energy and so on. The House is very aware of that. However, I do not agree with the noble Baroness, because the UK fares very well on an international basis. The UK’s taxes on wealth are on a par with those of other G7 countries, including inheritance, estate and gift taxes.

[Lord Foulkes of Cumnock (Lab Co-op)]

My Lords, could the Minister tell us what specifically is being done to stop people taking up residence or setting up companies in the overseas territories and Crown dependencies?

[Viscount Younger of Leckie (Con)]

We are very aware of these sensitive matters. I alluded to what we are doing about these matters, including the non-dom status, earlier in response to a question from the noble Lord, Lord Tunnicliffe.