Steel tycoon Lakshmi Mittal is preparing to leave the UK in response to a government crackdown on non-domiciled residents, making him one of the wealthiest entrepreneurs to move because of the tax reform.
The Indian businessman — who has lived in the UK for three decades — has told associates that his likely departure is in response to the Labour government’s decision to end the “non-dom” regime, which allowed certain UK residents to avoid paying British tax on foreign income and gains.
FT
A former Labour donor, one might add.