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Lord Leigh of Hurley (Con)

Speaking in the House of Lords on 10 July 2025

Debate

Primary Stock Exchange Listings

Contribution

My Lords, I declare an interest as a senior partner of Cavendish plc, the largest nominated adviser to listed companies on the stock exchange. We asked our clients why they are going to America. They give us two reasons: the multiples are higher in America—so be it—and the net remuneration package. Both founders of Wise and many directors of AstraZeneca were born abroad. The non-dom rules are driving away entrepreneurs in droves. This is why many companies are choosing to list abroad. We know that Labour is going to change its policy on non-dom tax—it is not a question of if; it is a question of when. Can I implore the Minister to speak to Treasury to make it as soon as possible?

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