Speech in Lords Chamber - Mon 01 Dec 2025 OBR Forecasts
"My Lords, this is the second fantasy black hole of this Government. The first did not actually matter because absolutely nobody believed it. No credible economist believed it; I challenge noble Lords to name one who did. However, the second fantasy black hole does matter, because we were all sucked …..." Lord Leigh of Hurley - View Speech
"To ask His Majesty’s Government what assessment they have made of the effect of the Budget on small and medium-sized businesses...." Lord Leigh of Hurley - View Speech
"My Lords, yesterday was the benefits Budget. The Chancellor has broken her promise not to increase income taxes. As she said in her Budget, because no national insurance is charged on dividend income, she will increase the income tax on dividends. Does the Minister think that she understands that national …..." Lord Leigh of Hurley - View Speech
"My Lords, I add my congratulations to the noble Baroness, Lady Lea—no relation. She is someone I have admired for many years, in all her writings and output, and she gave a most excellent maiden speech.
"My Lords, I add my welcome to the right reverend Prelate the Bishop of Newcastle. As someone who at best can do a half-marathon, I can only admire her. I share with her my recollections of the late Baroness Birk, whose views on faith I shared.
"My Lords, the Minister is right to say that the deficit is caused by the imbalance in FDI. Does he agree that the way to address this is to encourage industry to divert investments away from low-yield FDI into high-yield areas, such as China, which currently represents less than 1% …..." Lord Leigh of Hurley - View Speech
"My Lords, it is always a privilege to speak in your Lordships’ House, and in particular on a subject so vital to the future of the UK economy as our nation’s productivity. A Financial Times columnist—not Smithers, as it happens—wrote recently that:
"My Lords, I am delighted to be speaking today on the Queen’s Speech debate on business and the economy, and declare all my business interests as in the register. The noble Lord, Lord Teverson, will be pleased to note that most of my remarks focus on middle-sized businesses.
"My Lords, does my noble friend the Minister agree that during the life of this Government corporation tax has fallen from 28% to 21% but corporate taxation revenues from companies has increased from £35.8 billion to £39.3 billion? That underlines the point made by my noble friend Lord Borwick that …..." Lord Leigh of Hurley - View Speech
"My Lords, as has been said, we have discussed finance for SMEs at length and it will continue to be a perennial topic. I welcome Clause 5. All the challenger banks—the noble Lord, Lord Myners, named some of them but I was thinking more of the crowdfunding-type organisations—are very excited …..." Lord Leigh of Hurley - View Speech