Tory MP praises non-doms and warns against crackdown on tax loopholes.

Jacob doesn't like the fact rich foreigners may have to go to Croydon

Tory MP for North East Somerset Jacob Rees-Mogg took part in a debate last night at London's Guildhall speaking alongside the economist Dr Gerard Lyons, Lord John McFall and legal partner Scott Cochrane.

Rees-Mogg sensationally went off message and warned about the dangers of taxing rich foreigners when they come to the UK and praised that Britain is a tax haven for these foreigners, saying - "People who come in have very favourable terms. That is part of the reason that they’d be willing to come here and spend a lot of money."

"We need to be very careful about the taxation of non-doms. We don’t want to kill the golden goose. One of the great attractions for foreigners coming to the UK is actually it’s a tax haven for foreigners, and that’s great!"

"It’s rather irritating if you’re a UK taxpayer because you have to pay it all."

Rees-Mogg went on to praise super-rich foreign investors thanking them for the tax that they do pay that "subsidises" the "whole country". The Tory MP also said he was sorry for the individuals that have to fill out a form, and might have to take a trip to Croydon. tbg isn't sure what Jacob has against Croydon.

"Thank you very much for the tax revenues you provide that subsidises the whole of the country that is a huge contribution to the United Kingdom as a whole."

"We make it absurdly difficult to get good people in here. They have to fill in endless forms, they may have to go to Croydon!"

"We are so self-righteous that we poach a governor of the Bank of England from Canada and say it’d be quite wrong to give him expedited citizenship or residency or anything like that, he has to do it in the same way as anyone else. This is mad! We ask this man to come, we think he is the greatest central banker since sliced bread and he’s still having toe queue up to get into the country. What can we be thinking about?"

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