Dibgy Jones – keep digging

Digby Jones will be accused of making a gaffe today, for daring to speak out against the magpie tendency of the Chancellor. He should keep digging.

For Digby is right – if the government presses on with its greedier version of schemes to tax Non Doms more it will be bad for British jobs and British prosperity.

The British economy needs the organisational skills, the marketing flair and the investment backing from the overseas executives who have come here to run businesses. No-one can be sure at what point the tax and regulatory background becomes too stifling, but now is not a good time to test it to destruction.

The government has presided over two huge deficits – its own borrowing requirement, and the balance of payments deficit. Both need inflows of foreign capital to keep us going. That was why Gordon Brown took his begging bowl to China recently.

It’s not Digby in a hole, but the Chancellor. Digby is offering good advice – so keep digging Digby.

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One Comment

  1. Bazman
    Posted February 9, 2008 at 6:58 pm | Permalink

    Digby Jones. Full time bleating business apologist and sometime Trade Minister.
    Instead of trying to keep the minimum wage down and making wrong predictions that nothing short of Armageddon would occur should a minimum wage be introduced. What have all the people who opposed it got to say for themselves now?
    He should concentrate on producing more good paying jobs and improving the working conditions of the millions in Britain.
    The hypocrisy of this character knows no bounds.
    What I want to know is how these Non Dom's contribute to Britain and its econnomy, when often the only tax they pay is council tax. While enjoying the roads, defence, and the main thing they need. political stability.
    I don't want to hear how you 'feel' they contribute. Or their contribution is 'intangible'
    Go and tell your boss the same thing and you will quite rightly laughed out of the office. Businessmen want facts, and so do I.
    I would like to see a full cross party investigation into the Non Dom situation and if the claims of the likes of Digby Jones can be substantiated then fair enough, but so far even a Labour government seems to lack the political will. Probably because politicians earn so little compared to these people. Tony Blair being the obvious exception.
    Wealth like poverty is relative. Some people earn 40 grand a year. Others spend that on cars a year. Others earn 400 grand a year and others spend that on running a Yacht.
    I want to know the facts. Parasites or contributers?
    The taxpayer who often pays more than half his earnings and 40% when they die deserves nothing less.

    Reply: The issue is simple – do we want the non doms here, spending money to crteate jobs in the UK, or somewhere else?

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    John Redwood won a free place at Kent College, Canterbury, He graduated from Magdalen College Oxford, has a DPhil and is a fellow of All Souls College. A businessman by background, he has been a director of NM Rothschild merchant bank and chairman of a quoted industrial PLC.

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