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Finance Bill

The hon. Gentleman asks which U-turn; I shall come to many of the others later in our deliberations. The specific one is the £1 million of relief for entrepreneurs. Even that carries problems for people who are serial entrepreneurs, whose business is to rapidly grow and sell companies. That is a legitimate and healthy business model that contributes to the overall growth of the economy, but those involved are penalised by the proposals in a way that people who stick with one business over a longer period of time are not. For all those reasons, we disagree with the approach that the Government have taken to these matters. We do not think that they are fair, and the system of implementation has not been effective. We will vote accordingly.