Capital Gains Tax (Rates)

I have already given way to the hon. Gentleman. If he will forgive me, I want to make some progress. I started with a clear argument that the first coalition Government faced some unavoidable choices. I know that the Opposition, having been in government a couple of months ago—[Interruption.] The Opposition say that the choices are not unavoidable, but I would love to know what they would reduce if they were in government. What would be their choices? We have heard nothing about that except their talk about the £45 billion—not a single word about a penny piece being cut from any budget. We have to make spending cuts to repair a record deficit, reform the tax and welfare systems while protecting the vulnerable, and set the foundations for long-term, sustainable recovery.