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Lord Leong (Lab)

Speaking in the House of Lords on 10 June 2025

Debate

Corporate Liquidations

Contribution

My Lords, private equity plays an important role in business support in this country. We have seen private equity companies that have acquired businesses and actually grown them as well. Yes, their track record is not great, but there is definitely a role for private equity in business in this country. Do not listen to the Government. Listen to people in the private equity business. Jamie Dimon said: “I’ve always been a believer in the UK’s … strengths as a place to do business and there’s much to like about the new government’s pro-growth agenda”. Yesterday, Nvidia CEO Jensen Huang argued that the UK was in the “Goldilocks” zone with great universities, a good start-up culture and the third-largest amount of investment in AI companies globally outside the US and China.

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