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She has vowed a new runway at Heathrow, visas for those with AI and life science skills and said she would ease the non-dom ban to allow a more generous phase out of tax benefits.

Downing Street said the tweaks, which will be made through amendments to the Finance Bill, did not change the government's overall approach "to replacing the outdated non-dom tax regime".

Plans to abolish non-dom status will be amended to allow a more generous phase out of tax benefits, Chancellor Rachel Reeves has announced.

Non-dom status enables people who live in the UK to avoid paying UK tax on money made abroad because their permanent home for tax purposes is outside the country.

Reeves told an event hosted by the Wall Street Journal: "We have been listening to the concerns that have been raised by the non-dom community."