The first major survey of non-doms since the election is in. It’s not good news for Reeves’ ‘drive for growth’…

Consultancy Oxford Economics asked non-doms and their tax advisers what their plans were now that Labour will push ahead with its scrappage of the two-century-old scheme: 63% say they are planning on leaving within two years. Taking their £118 million of investment each with them…

Eight-in-ten of them blame the plans to levy inheritance tax on worldwide assets as the final nail in the coffin. 67% meanwhile say they wouldn’t have immigrated to the UK if the scheme was in place at the time. Millionaires are already heading for the door in droves…

HMRC raked in £9 billion from the UK’s 74,000 non-doms last year. Bye bye to that revenue…