Carol Monaghan
Main Page: Carol Monaghan (Scottish National Party - Glasgow North West)Department Debates - View all Carol Monaghan's debates with the HM Treasury
(1 year, 6 months ago)
Commons ChamberIt is always a pleasure to follow my hon. Friend the Member for Ellesmere Port and Neston (Justin Madders), who always expresses himself so eloquently. In my constituency, fewer than 100 people are non-domiciled for tax; in the constituency of my neighbour the shadow Chancellor, my right hon. Friend the Member for Leeds West (Rachel Reeves), there are fewer than 100 people who are non-domiciled for tax, as there are in Leeds East, too. In fact, in the whole city of Leeds of 800,000 people, relatively few are non-domiciled for tax.
In the constituency we are standing in, 14,600 people—more than 20%—are non-domiciled for tax, according to the House of Commons Library. If any Member wants to intervene and tell me I am wrong, they should feel free. What we do not know is how much the public revenue is losing from those people. My constituents and the people of Leeds would love to know how much tax is being lost just in the Cities of London and Westminster from people utilising the non-dom tax loophole. I would like to know whether it is more than the whole amount that all 70,000 of my constituents pay in tax. That is what this motion is about.
My hon. Friend the Member for Ealing North (James Murray) is a modest man. He does not want too much, just to know how much we are losing from the public treasury. He has not moved a motion to ask for the abolition of non-dom status. He may have ambitions in that area, but that is not what we are talking about. He merely wants clarity and transparency, as does everyone on the Opposition Benches. But some people want opaqueness—I sure they are sitting on the Government Benches—as we have heard time and again.
Let us look at what happens with tax in other countries. The Conservative party often lauds the United States of America’s tax system and its attitude to entrepreneurship. Would this loophole happen in the United States of America? Would it happen in Canada, Germany or other jurisdictions? No, it would not. They require people to pay tax after a qualifying period. In the United States of America, that qualifying period is just one day.
Recent research from the Tax Justice Network has shown that the UK leads OECD countries in tax abuse.
That is a very good point. When Ukraine was first invaded we saw how much Russian money was in this country. In fact, I do not think we have yet resolved that issue fully through Magnitsky and other means.
I will try to keep to the time limit, as more Members would like to speak, so I will finish by saying that I go to schools a lot around the city of Leeds. Many families cannot afford to give their children breakfast. The ending of this loophole would mean that we could give every child in every primary school in this country a free school breakfast. The Prime Minister has aspirations to raise standards, but there is nothing more that he—or we—could do for those children than to give them that free breakfast, paid for by people avoiding tax on their earnings here.