B

Baroness Meyer (Con)

Speaking in the House of Lords on 1 September 2026

Debate

United Kingdom: Business Competitiveness

Contribution

My Lords, I welcome the Minister to his new position. I thank him for his Answer, but I am a little surprised by his optimism. Since the changes to capital gains tax and higher employment costs, 6,000 business owners and company directors have left the country, some 13,000 stores and 700 pubs have closed, and 7,000 hotels, restaurants and cafés have entered insolvency. The warnings are coming from everywhere: the Institute of Directors, the CBI, the IEA, the British Retail Consortium, the hospitality sector and major retailers all point to the burden of higher taxes. We cannot tax our way to growth. Does the Minister not agree that to get growth, we need more entrepreneurs and risk-takers, not policies that drive them abroad?

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