Loan charge

I have many constituents contact me about how the Loan Charge is set to affect many lives, including constituents of mine.

You will most likely be aware that a review on the Loan Charge was announced in the Budget last autumn. Whilst I welcomed this announcement, I knew that this issue deserved to be looked into properly in light of the negative effects it is set to have on many individuals. For this reason, amongst a group of other MPs, I have called for a delay or suspension to the introduction of the Loan Charge to allow the policy to be properly reviewed and also debated in the House of Commons.

I have attached a copy of a letter to the Chancellor of the Exchequer I have signed, which I hope you will find useful and informative. I sincerely hope that the Chancellor will listen to our concerns about the numerous people that will be affected, and the serious risk of financial hardship for many if the policy goes ahead as currently planned.

The debate on this in Parliament was disrupted last week due to a leaking roof but concluded yesterday. There was unanimous support by MPs for a delay in the loan charge until an independent review is carried out. We hope the Government will listen to this demand by MPs.

I will do all I can to make sure this issue is given the attention it deserves.