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Early day motion tabled by primary sponsor John McDonnell (Labour), on Wednesday, 21 February 2007, in the House of Commons. It is signed by 28 members in total.

PRIVATE EQUITY COMPANIES

That this House welcomes the statement by the TUC's General Secretary accusing some private equity companies of operating like `amoral asset strippers' and `casino capitalists'; and calls upon the Government to consider legislation to exercise control over the damaging behaviour of those operations and to review the tax relief on interest paid by private equity groups.

Amendments

The Early day motion has received an amendment.

PRIVATE EQUITY COMPANIES (939A1)
The Early day motion has received an amendment sponsored by Mark Field (primary, Conservative) and tabled on Monday, 26 February 2007. It has been signed by 28 members in total.
leave out from `House' to end and add `notes the fact that the United Kingdom private equity and venture capital industry plays an important role in keeping the United Kingdom and wider European economies successful and dynamic and invests in every sector of the economy across all regions of the United Kingdom; understands that in the United Kingdom there are no special tax concessions to the private equity and venture capital industry and that tax relief on loan stock deductability, for example, is available to, and used by, the whole of British business; further understands that the United Kingdom private equity and venture capital industry is fully and comprehensively regulated and always has been; acknowledges that, whilst there are legitimate areas of concern and interest around specific deals, as a whole the United Kingdom private equity and venture capital industry is a well-established, fully regulated and appropriately taxed asset class that plays its part in helping to make London the financial centre of the world; and recognises that in the process it makes investments and generates superior returns to its investors, principally pension funds.'.

Secondary information

Type
Early day motion
Reference
939 
939A1 
Session
2006-07
Other sponsors
Alan Meale
Kelvin Hopkins
Martin Caton
Jeremy Corbyn
Rudi Vis
Subjects
Private equity
Link
View this Early day motion on www.parliament.uk