London falling

It has taken 30 years for London to build its reputation as a haven for the world's wealthy, and a f...

It has taken 30 years for London to build its reputation as a haven for the world's wealthy, and a financial trading hub. And how long has it taken to damage it? Less than 30 weeks. In October, Chancellor Alistair Darling announced a plan to introduce an annual levy of £30,000 on the non-doms, as non-domiciled tax residents in the UK are known. Since then, the plan has come under fierce attack from the financial establishment. Even Trade Minister Digby Jones said it has hurt the country's appeal to foreigners. The consequences of Darling's plan may prove disastrous. Targeting the no...