Capital Gains Tax (Rates)

It is a privilege to follow the hon. Member for East Surrey (Mr Gyimah). He not only reflected on the beauty of his constituency but let us know that, just because people live in idyllic settings, that does not mean that their family or work circumstances are ideal. He has also given us a trailer for the many lively contributions he will make in this House, seasoned with strong personal reflections, which many Members will have taken on board. Claims have been made that, with the coalition Government, we have a new politics. That new politics, we are told, is about honesty and rebuilding trust. However, we have at the heart of the Budget the departure of honesty, with parties justifying doing what they said they would not do. Parties campaigned to get votes on the basis that the last thing we wanted was a VAT increase, but it is the first thing imposed by this Budget. It is a Tory Budget with Liberal Democrat accessories. I concede that some of those Liberal Democrat accessories are attractive—and that is part of the political calculation behind the Budget—such as the triple guarantee on pensions, which is there so that the coalition can say to Labour opponents, "We have done something that you didn't do, we have restored the earnings link and better." I regret that Labour Ministers did not listen to all their Back Benchers during their 13 years in government and do something about the pensions earning link. We need honesty all round. I welcome the intensity that is coming from some of my hon. Friends on the Labour Benches, but I hope it comes with a measure of honesty, point by point.