Deborah Meaden tells LBC’s Tom Swarbrick the Angela Rayner stamp duty furore distracts from the real issues facing the country – and calls on Labour to tax the ultra-wealthy more
Dragons’ Den star Deborah Meaden says the probe into Angela Rayner ’s tax affairs has become a “distraction” from the real issues.
The Deputy Prime Minister is under fire for underpaying stamp duty by £40,000 on the purchase of an £800,000 seaside flat in Hove – and says she was advised to do so by her solicitors.
It was only when she sought advice from a senior barrister that she realised she’d mistakenly paid the lower rate of stamp duty, she claims. Keir Starmer is standing by her.
Angela has referred herself to the independent adviser on ministerial standards, Laurie Magnus, who is due to file his report to Prime Minister Keir Starmer as soon as Friday September 5.
In a conversation with LBC on Wednesday, 66-year-old business tycoon Deborah came out batting for Rayner – but admitted she didn’t know whether the Deputy PM can keep her job.
“Of course it’s not right, but I do think it’s a little bit of a side issue and a distraction at the moment,” she told the radio station. “You know what I really, really worry about? We spend so much time talking about those issues that are really raised by people with vested interests to bring somebody down.”
Deborah, who has a net worth of £50million, also said the government should go in harder on the ultra-wealthy to make them pay their fair share.
“I believe in a wealth tax. I think people should pay their fair share. And obviously wealthy people are able to pay more,” she said. “What we don’t need to do is push it to the point where we just get a mass exodus or worse.
“People spend a lot of money avoiding paying that tax. I think we should play our part. We should pay, we should set a tax rate and there’s a social contract that says and we should pay it.”
She added: “It’s really very simple. If theoretically, we want more money to spend on all of the things that we all benefit from, it has to come from somewhere. It’s our money. We can also borrow money. And actually the borrowing of money is also reliant on a healthy economy… The government can borrow money cheaper. It can do all of the things that it wants to do.
“But I also think that we, and the wealthy businesses that can afford to – we have to play our part in tax.”
On the government’s business plans, Deborah believes Labour is addressing key issues that businesses face, but has made “big mis-steps” – such as the National Insurance hike paid by employers.
“The plans do address all of the issues that businesses face – the funding issues, the cash flow issues, the late payment issues. So the plans, definitely, I still support,” she said.
“I don’t like everything the government’s done and I certainly think there’s been some big mis-steps. Things like the National Insurance, that’s a very difficult one for businesses. But also with all plans, it’s always about implementation.
“Some of these plans take quite a while and I think we’ve become so used to wanting to feel the impacts now that it can sometimes feel difficult to have faith in those plans. But I still believe the things that they’re tackling are the important things for small businesses.”
And Deborah was quick to pour cold water on rumours she’s standing to be Mayor of London at the 2028 election.
“It’s not true,” she said. “And because I actually spend most of my time outside of London, I really think somebody is better qualified than me to say the changes that need to be made in London. It is absolutely not true. There has been no conversation with me whatsoever.”
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