Finance Bill

I do not recognise the hon. Gentleman's figures, but I do know that poverty has been rising recently under this Government, so he should be extremely careful about what he says. People are more interested in today and tomorrow than the dim and distant past. I remember that the Conservative Administrations to whom he refers made sharp reductions in income tax across the piece, thereby benefiting those on lower incomes as well as those on higher incomes, and we were very pleased to do that. Today, I am, however, explaining my personal position in today's circumstances, and I think it is reflected by my Front-Bench colleagues, in that we feel that the squeeze is too intense and that it is not right for it to be intensified by tax measures. I remember when the Budget we are discussing was delivered. The big reduction in income taxes for the rest of the people—the reduction in the standard rate—came at the very end like a rabbit from a hat. My right hon. Friend the Leader of the Opposition had to rise to respond not having had the benefit of any pre-briefing of what the Chancellor was going to do. In the meantime, the shadow Chancellor, myself and one or two other Conservative Members—including, I suspect, the shadow Chief Secretary—had a quick look at the figures and realised what was going on, and the shadow Chancellor immediately left the Chamber to tell the nation it was not a tax cut but a tax con. That was his phrase, and it summed up the situation extremely well. I was the next Conservative Member after the Leader of the Opposition to speak in the debate, and I explained why we felt this was a misjudgment and that quite a lot of people would lose from the proposal.