Member

I turn to new clause 10, which would ask the Government within six months of the Act coming into force to make a statement to the House on the impact of the dividend tax measures on: household saving decisions; the domestic equity market; institutional investors; and outcomes for savers and pensioners. To be clear, institutional investors are not affected by UK personal dividend taxation—I respect and understand that others are—but overall the OBR does not expect that the changes to dividend tax announced at the Budget will have a significant impact on business investment. The OBR says that real business investment will increase on average by 0.75% a year between 2026 and the end of the decade.