Finance Bill

I am grateful for the hon. Gentleman’s intervention. In answer to his first question, I recommend to him the Library services across the corridor. On personal debt, the level is high in most of the advanced economies, like our own. However, I agree that there is cause for concern where people are taking on debt that they are unable to sustain. My views on that are on record. We can reject the first part of the reasoned amendment tabled by the Opposition, because it does not stack up. It does not make sense. As soon as one starts reality- checking, the wording falls away. I looked at the employment figures provided by the Library, which I again recommend to the hon. Member for Dundee, East (Stewart Hosie). The reduction in the number of people unemployed in my constituency, Stoke-on-Trent, South, is approaching 20 per cent. There is a huge amount of work still to do because I do not want any of my constituents to be without work, but the improvement has been incredible. That was made possible by provisions such as those in the Bill. My hon. Friend the Member for Wolverhampton, South-West made some valid points about the real reasons why 125,000 people are in the financial assistance scheme. It is right and proper that Back Benchers of the governing party put pressure on Ministers whenever possible, and I take the opportunity to do so now. We need to ensure that every single one of the pensioners who were adversely affected gets whatever help we can give them. I shall not adopt the Opposition attitude and suggest that we can wave a magic wand and put everybody in the position that they wish they were in and that they were promised by the trustees of their schemes, but equally we are not seeking a proceeds of growth rule that would mean that the money was not available to back up the promises being made. I hope that the review that is under way will ensure that the good provisions in the Bill, which I welcome, are built upon. Although the increase from £2billion to £8 billion projected costs, the 80 per cent. payout and the increase in the cap are all good moves, we should do what is morally right and push for as much help as possible to be given to those 125,000 people. Finally, I shall canter through the provisions of the Bill and how they will impact on my constituents. On the main rates of tax for financial year 2008 and the changes to the small companies rate, on which several hon. Members have commented, yes, there are concerns. There are small businesses in my constituency that will understandably be worried about the impact of future changes to those rates. However, the fall in the basic rate of tax to 20 per cent. must be welcomed. A large number of my constituents who receive tax credits will welcome both the drop in the basic rate and the increase in tax credits. Every Member of Parliament regularly sees people in their surgeries who have problems with the tax credit system, just as we see constituents who have problems with speeding tickets or with housing. We only ever see the downside. We rarely have anyone coming to us and saying, ““This works for me?, but when we are out on the doorsteps talking to people, we find time after time people who are being helped by tax credits. I welcome the proposals in that regard. As a non-smoker I welcome anything that persuades smokers to relinquish the habit, but I note that the increases in tobacco product duty are broadly in line with inflationary measures. The work that has gone on, separate from the Finance Bill, to help people kick the habit of smoking is the right approach. It is time for much more carrot and less stick in future years to move people away from an addiction to tobacco. On vehicle excise duty, I shall not detain the House by rehashing the enlightening discussion that took place between the hon. Member for Falmouth and Camborne and my hon. Friend the Member for Wolverhampton, South-West. I would not want to revisit an exchange that was at times, I think, painful for the hon. Lady.