Whats wrong with being the Private Equity or fund management capital of the world? At least that is an economic activity that generates employment and revenue. OK some people get very rich out of that. But so did mining coal in the 19th Century. It is a peculiar mind set of the British Unions that getting rich from coal mining is good. Getting rich from managing other people's wealth is bad.
As for raising tax revenue, if you take away all the non dom foreign income that is taxed at source, and those who decide to leave Britain, it is very doubtful that 500 million would be realised. Capital gains? 18% if it is realised. The super rich don't have to sell anything and they can always match their loses against gains. So where is the revenue?

Cranmer, London,

as a lawyer representing many very wealthy non-doms I know thmost of the comments I read miss the point. The Chancelor whatever side of the political spectrum he comes from is there to raise max revenue with min pain and then use this money to support the underpriveleged. What these proposals do is rob the UK of around £5billion a year in revenues that is the equivilant of 35 new hospitals or paying 35,000 junior teachers salaries for life. Non-doms send £7billion in the economy each year and the average non-dom pays 54 times more tax than the average Brit. What has happened here is political dogma (soke the rich whatever the consequences) overrriding the interests of the country. We have no manufacturing we have financial services and these support wealthy business builders who pay tax and employ people. My clients will no longer invest here if this madness prevails and we will loose their capital and their expertise. People and capital are mobile we need them they do not need us.

Simon Evans, London,

UK is doing so well precisely because people are not treated equally . Many of the hugely succesfull nondoms came here because of that . They are not here for the traffic, weather and cheap cost of living .

Brett Schlesinger, london,

It would be so much better if Brown and Darling would summon their courage and scrap the non domiciled status entirely so that everybody living in Britain would be treated the same. Unfortunately the new legislation only hits on the lower income section of the non doms and leaves the richest part entirely in the same situation as before. It is a clear case of regressive taxation which, coming from Labour (and only for political reasons), is rather disappointing.

gian, london, united kingdom

Are we sure this is a Labour Chancellor delivering more social justice or something else, who panders to those holding the purse strings. His pandering to the non doms and the wealthy on inheritance tax will reward Labour with negative net votes at the next election. Those affected by the change wont vote labour, and traditional Labour supporters are fed up with the constant pandering Labour shows to big business and the wealthy.

We need a Labour Government

Peter Jackson, GATLEY, Cheshire

Typical. Tax the normal working people with yet more tax on cars whilst pandering to the super rich. Most of these people are using the city as a big casino gambling on the market, not adding to the economy. I think the Liberal Democrats are right to tell them to put up and pay up or leave.

Chris , nottingham,

Even that right-wing City elitist Ken Livingstone is worried "London now generates more income for them (Brown/Darling) than the entire of British manufacturing. They can't afford to get it wrong."

Tony, Bath,

I am a US national who has recently moved to the UK after many years of living in continental Europe. To put it mildly I was shocked by the scope and breadth of these proposed changes when they were announced. They were concurrent to my taking up residence in the UK and were completely unforeseen (at least until the Tory conference). I am on a strict budget, London is expensive, the dollar is weak. Yet due to the way my finances are arranged I am holding investment funds in escrow in other countries. Whether I can afford these tax changes, even if able to be charged against my US taxes, is a very real question. The problem is the damage has already been done and I feel sick to my stomach every time the PM and the Chancellor reiterate "stability is our watchword" -- as if so long as they keep repeating it, it might somehow come true. I understand the underlying issues and they are socially complex, granted, but this government has shot itself in the foot. I think I'm leaving.

Doodle, London,