Billionaire businessman and Phones4U founder, John Caudwell, expresses concern over Labour's planned changes to the non-domiciled tax regime, arguing it will harm the UK economy.
Phones4U founder John Caudwell tells i he recently met Keir Starmer ahead of Monday's investment summit
“This group of people will be unfairly impacted by the phasing out of the non-dom tax regime, and I am against it,” says the businessman, whose official residence is in the UK where he pays tax. John Caudwell, 72, was born in Birimingham in 1952 but grew up in Stoke-on-Trent. After leaving school he worked at a Michelin tyre factory before founding Phones4U – orginally known as Midlands Mobile Phones – in 1987. The mobile phone retailer, which began with a stock of 26 mobile phones, was sold to a private equity firm in 2006 for £1.47bn. Caudwell’s wealth is estimated at £1.
“But, look, if I were writing the rules for politicians today then I’d have it that no politician would be allowed to take a penny in anything whatsoever, unless it was for the benefit of the nation. And then stepping over the mark would also be a criminal offence.” A still from series six of The Crown which used Caudwell’s yacht, The Titania, for filming scenes set aboard Mohamed Al-Fayed’s yacht Photographer: Daniel Escale/NetflixWe move onto whether Caudwell will make a political donation to Labour given he gave £500,000 to the Conservative Party ahead of the 2019 election, a move he says he made because he “deeply feared” for the future of the country if the then opposition leader Jeremy Corbyn and his shadow chancellor John McDonnell came to...
John Caudwell Phones4u Labour Party Non-Dom Tax Investment Summit
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