B

Baroness Kramer (LD)

Speaking in the House of Lords on 15 July 2025

Debate

Taxes

Contribution

My Lords, we understand that today at the Mansion House, the Chancellor will avoid the word “tax” and instead focus on pumping risk-taking into financial services as the mechanism for growth. The financial crash of 2008 was entirely generated by risk-taking, all of it legal, allowed by the regulation of the time, widely admired and never called to account. I can understand some streamlining of regulation, but since on every front, safeguards are being taken away slice by slice, will the Government now issue a summary of all the safeguards that both the Government and the regulators have discarded, so that we can assess whether or not we are repeating the past?

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