Boris Johnson latest: Labor demands explanation as Rishi Sunak’s wife defends non-dom tax status

Activists wearing Rishi Sunak masks slam Chancellor’s National Insurance hike

Labor has called on Chancellor Rishi Sunak to ‘urgently explain’ how much his family have saved on tax bills after it was revealed his millionaire wife Akshata Murthy had claimed non-domiciled status.

Although it has not been revealed exactly how much has been saved by Ms Murthy, sources have said The Independent this could have amounted to millions of pounds in foreign income tax over several years.

Non-dom status means it does not have to pay UK tax on income from dividends from overseas investments, rent on overseas property or bank interest. The status also means that a person avoids inheritance tax in the UK.

A spokesperson for Ms Murthy said: ‘Akshata Murty is a citizen of India, her country of birth and the home of her parents. India does not allow its citizens to simultaneously hold the citizenship of another country. Thus, under UK law, Ms Murty is considered not domiciled for UK tax purposes. She has and will continue to pay UK tax on all her UK income.

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Editorial | Income of Rishi Sunak’s non-dominant wife is a matter of legitimate public interest

The revelation of Akshata Murty’s non-dom status has raised even more questions about the wealth of Rishi Sunak’s family after he was asked about his wife’s connection to a major tech company that keeps its operations in Moscow.

Contrary to Mr. Sunak’s protests, the pecuniary interests of the spouses are a matter of legitimate public interest are also addressed in the ministerial code. It states that ministers must provide the civil service with a “comprehensive list” of interests, and this “should also cover the interests of the minister’s spouse or partner and immediate family, which could give rise to a conflict”.

Read the full editorial below:

Thomas KingleyApril 7, 2022 7:15 a.m.

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Boris Johnson defends tax hike

Prime Minister Boris Johnson has defended the decision to increase National Insurance for millions of workers as “necessary, fair and responsible”.

Mr Johnson said: ‘We need to be there for our NHS in the same way it is there for us. Covid has led to the longest waiting lists we’ve ever seen, so we’ll be providing millions more tests, checks and surgeries in the biggest catch-up program in NHS history.

“The levy is the necessary, fair and responsible next step, providing our health and care system with the long-term funding it needs as we recover from the pandemic,” the Prime Minister said.

Alisha Rahaman SarkarApril 7, 2022 6:53 a.m.

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Black households up to four times more likely to starve

As the UK grapples with falling living standards, black households across the country are at risk of up to four times more food insecurity than the national average.

Figures from the Department for Work and Pensions Family Resource Survey show that in the financial year 2020-21 some 21% of households headed by someone of black African, black Caribbean or black descent Britons didn’t have enough food to stay healthy and active. This figure is three times higher than the UK average of 7%.

About 12% of households headed by a person of Bangladeshi origin also suffered from very low food security, while households headed by a person of Pakistani origin are the second most food insecure households with 17%.

Alisha Rahaman SarkarApril 7, 2022 6:36 a.m.

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The cost of living crisis is widening the gap between North and South

The economic gap between North and South England is set to widen due to the cost of living crisis, new research shows

Of the 31 areas most vulnerable to soaring fuel, food and energy prices, 19 are in the north and another eight are in the Midlands, according to an analysis compiled by the Center for Progressive Policy (CPP) .

According to the think tank, residents of Middlesbrough, Hull and Blackburn along with Darwen will be hardest hit by soaring costs in the coming months. said Ben Franklin, director of the RPC.

Alisha Rahaman SarkarApril 7, 2022 6:19 a.m.

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Who is Akshata Murthy?

Born to tech giant Infosys founder Narayana Murthy and author Sudha Murthy, Akshata Murthy has a 0.9% stake in the company worth hundreds of millions of pounds, according to its latest annual report.

Together with her chancellor husband Rishi Sunak, Ms Murthy owns London-based Catamaran Ventures UK, The Guardian reports. Mr Sunak transferred his shares to his wife shortly before entering parliament as an MP in 2015.

Ms Murthy, now 42, is also listed as a shareholder in at least six other companies, including Jamie Oliver’s Pizzeria, Wendy’s restaurants in India and New & Lingwood, a menswear store that measures Etonians for tailcoats and silk dressing gowns.

Alisha Rahaman SarkarApril 7, 2022 06:03

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Labor asks Sunak to explain his wife’s non-dom status

Labour’s shadow economic secretary to the Treasury, Tulip Siddiq, has called on Rishi Sunak to ‘urgently explain how much he and his family have saved on their own tax bill’ while raising taxes for millions during the cost of living crisis .

“The Chancellor has imposed tax hike after tax hike on the British people. It is stunning that – at the same time – her family have been able to benefit from tax cut schemes. This is yet another example of the Conservatives thinking that it’s one rule for them, another for everyone else,” she said.

Mr Sunak had raised the tax burden on UK residents to its highest level since the 1940s in his spring statement last month amid a sharp decline in living standards.

Alisha Rahaman SarkarApril 7, 2022 05:31

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Rishi Sunak’s millionaire wife avoids tax thanks to non-dom status

Rishi Sunak’s millionaire wife Akshata Murthy has claimed non-domicile status to save on her tax bill while her husband was chancellor, The Independent has learned.

While it’s unclear exactly how much Ms Murthy saved, sources say it could have amounted to millions of pounds in foreign income tax over several years.

A spokesperson for Ms Murthy said: ‘Akshata Murty is a citizen of India, the country of her birth and the home of her parents.

“India does not allow its citizens to simultaneously hold the citizenship of another country. So under UK law, Ms Murthy is considered not domiciled for UK tax purposes. She still has and will continue to pay UK tax on all his UK income.

Alisha Rahaman SarkarApril 7, 2022 05:21

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Alisha Rahaman SarkarApril 7, 2022 4:37 a.m.


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Edward L. Robinett