The introduction of laws banning peers from being tax exiles is widely believed by many to be a Labour tactic to force Tory Lord Ashcroft to declare his tax status and either become UK domiciled or to leave the House of Lords.

However, Labour peer Lord Paul, worth over £5 billion is expected to leave the Lords this summer, because he is not prepared to to give up his non-domiciled tax-exile status and pay UK taxes. Lord Paul as part of his commitment to the pursuit of greater financial equality and fairness(irony) has contributed in the region of £500000 to Labour. This honourable and generous socialist benefactor is currently being investigated over alleged abuse of Lords expenses. He wrongly claimed taxpayers funds by nominating a hotel he owns in Oxfordshire as his 'main home' so that he could claim second home expenses on his main home in London.

Meanwhile Lord Ashcroft has confirmed that he will abide the law and will be remaining in the House of Lords.

How wonderfully, laughingly and appropriately ironic that Labours fattest fish gets caught in their own nets. I love it!

PS. Lord Ashcroft is not being investigated over abuse of his expenses!