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UK government abolishes centuries-old tax breaks for the rich in preelection budget announcements

  • The current tax system for non-doms will be abolished, raising £2.7bn/year, with a confirmed 2p cut to national insurance.
  • The High Income Child Benefit Charge will increase from £50,000 to £60,000, and a new excise duty on vaping will be introduced.
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CNBC broke the news in Englewood Cliffs, United States on Wednesday, March 6, 2024.
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