Hugo Dixon is Editor-at-Large, Reuters News and the founder of Reuters Breakingviews. He is also the author of "The In/Out Question: Why Britain Should Stay in the EU and Fight to Make it Better." Before founding Breakingviews in 1999, which he edited until 2012, Hugo spent 13 years at the Financial Times, the last five as Head of Lex. He began his journalistic career at the Economist. Follow him on twitter: @hugodixon
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There’s not much to choose between the two main UK political parties’ economic stances. Both want to cut the deficit slowly, splash out on the NHS, and have some silly policies. The big difference is Labour would tax the rich more and the Tories might take Britain out of the EU.
Current rules give some rich people an unwarranted tax break. But Labour’s plan to reform the system for those living in Britain with “non-domiciled” tax status could deprive the country of valuable talent. New levies on non-doms’ UK residences would bring a fair compromise.
The default scenario is off the table for the time being after Athens confirmed it would meet a payment to the IMF on April 9. But it will probably be back by late April if Greece doesn’t come up with some serious reforms on pensions, tax and banking.
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