Andrew Bridgen raises concerns about threat to UK tax revenues of capital flight

6th November 2017

During a debate on the impact of the “Paradise papers” revelations, Andrew Bridgen raises concerns that the real threat to UK tax revenues would be the potential flight of capital should there be a change of government.

Does my right hon. Friend agree that by far the biggest threat to UK tax revenues is the run on the pound and the flight of capital predicted by the Labour party should it ever get into government?

My hon. Friend is absolutely right. One measure that the Opposition have said a future Labour Government would take is to stick the corporation tax rate up to 26%, which would do nothing to create jobs, nothing to create wealth, nothing to improve our economy and, most importantly, nothing to raise the vital taxes that we need to support our vital public services.

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