ultra-rich plead with labour to reconsider tax proposals before budget announcement

A lobbying group called Foreign Investors for Britain has made a final appeal to the Labour government before the budget announcement by Chancellor Rachel Reeves.

The group is concerned that proposed changes to tax treatment for non-domiciled residents could cause wealthy individuals to leave the UK.

Varun Chandra, a business adviser to Prime Minister Keir Starmer, has been in discussions with the group.

The group has previously warned that Labour's tax proposals may not generate the expected revenue for the government.

As the budget showdown approaches, the government is under pressure to balance fiscal responsibility with the potential impact on foreign investment and the economy.

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