In the City: Will Rachel Reeves Undo the Non-Dom Mess?

Leaders with Francine Lacqua

Bloomberg

Management, Business, Careers, Entrepreneurship

4.6 • 64 Ratings

🗓️ 19 June 2025

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s no secret the Labour government’s policy to tax the UK’s wealthiest as part of its effort to fix a budget crisis left by the Conservatives has caused Prime Minister Keir Starmer some headaches. The biggest exodus of wealth in the UK’s recent history appears to be underway, and the data shows the departure is likely to be a drain on the economy. But is it enough for Chancellor of the Exchequer Rachel Reeves to change course? And should she?

Bloomberg reporter Benjamin Stupples joins host Allegra Stratton to discuss.

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Transcript

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1:01.4	Bloomberg Audio Studios, Podcasts, Radio News. Welcome to In The City.
1:17.3	Each week we unpack a story that's crucial to the world's financial capitals.
1:22.0	I'm Allegra Stratton.
1:23.7	So, okay, we know that it's a big news week, but interestingly, uncertainty in the Middle East
1:28.9	has not yet had a huge effect on the markets. We also are not unaware, promise you, that there's
1:35.1	been a G7, and out of that, the UK did get some progress on its trade agreement with the US.
1:41.3	But even so, what has got many people talking in the city is what
1:46.5	an earth may or may not be happening to the chances crackdown on non-doms. This week, we return to
1:53.3	that decision that Rachel Reeves made to essentially end the non-dome status. There are rumours that
1:59.6	she may be about to do a U-turn.
	...

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