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Wealth — Question

Part of the debate – in the House of Lords at 2:48 pm on 5th July 2010.

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Photo of Lord Bilimoria Lord Bilimoria Crossbench 2:48 pm, 5th July 2010

My Lords, does the Minister agree that the question should be not how much wealth does the richest 10 per cent hold, but how much wealth does the richest 10 per cent generate for this economy? What are the Government doing about the worry of driving away some of the most talented people through the 50 per cent rate of tax, the non-dom levy and increased CGT? Surely we should be attracting more wealth creation. On the other hand, with regard to the question before about the previous Government and reducing child poverty, is it not shocking that we should have child poverty in one of the wealthiest nations in the world?