Oral Answers to Questions

Alan Mak Excerpts

Tuesday 9th December 2025 Commons Chamber

[Torsten Bell]

My hon. Friend has been a powerful campaigner for those surpluses to be shared with the members of those pension schemes. He knows that we made an announcement at the Budget to ensure that the British Coal staff superannuation scheme surplus is shared with its members, and I know that the trustees are bringing forward their proposals on the sharing of future surpluses.

[Alan Mak (Havant) (Con)]

The Budget cut the venture capital trusts tax relief that allowed investors to back Britain’s fastest-growing companies. How can the Chancellor claim to support our entrepreneurs when she is cutting off the funding that they rely on?

[Rachel Reeves]

I hosted an event last night for entrepreneurs. Speaking at it were the chief executives of Quantexa and Motorway, both of whom welcomed the changes that we made to support entrepreneurs at the Budget, particularly the changes we made around enterprise management incentives, the enterprise investment scheme, VCT, and the three-year stamp duty holiday for companies choosing to list here in Britain. We are backing entrepreneurs in Britain, and they are backing our changes.