Reeves to Relax UK Non-Dom Rules Amid Millionaires Leaving (1)

Chancellor of the Exchequer Rachel Reeves said she will relax some of her changes to the UK’s tax regime for wealthy foreigners, known as “non-doms,” amid concerns the Labour government’s policies are pushing millionaires to leave the country.

“We have been listening to the concerns that have been raised by the non-dom community,” Reeves said at a Wall Street Journal panel event in Davos on Thursday, when asked about the estimated 10,800 dollar millionaires who left the UK in 2024.

The government is planning to introduce an amendment to the Finance Bill, which contained Reeves’ budget measures from October and ...