L

Lord Sharpe of Epsom (Con)

Speaking in the House of Lords on 10 June 2025

Debate

Corporate Liquidations

Contribution

My Lords, first, does the Minister accept that the spike in voluntary closures is directly linked to the Government’s decision to hike the entrepreneurs’ exit tax from 10% to 14%—soon to go up to 18%—as well as increases in capital gains tax, which are prompting many owners to race for the exit? Separately, in answering a question earlier he relied heavily on GDP figures, which will be small comfort to those people who have lost their jobs, but I think I heard him say 7% growth. I do not think that is right—would he care to correct the record?

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