Capital Gains Tax (Rates)

It is a pleasure, as always, to follow the hon. Member for Foyle (Mark Durkan). I pay tribute to my hon. Friend the Member for East Surrey (Mr Gyimah) for his fluent and assured maiden speech. There is a great future for him in this House. The Budget that was presented to the House by the Chancellor of the Exchequer last week was brave and bold, and it was the right thing to do. History will record that it will set our country back on the road to economic recovery and prosperity. Just as it fell to Margaret Thatcher 30 years ago to deal with the poisonous legacy of Labour profligacy and financial ruin, the Prime Minister faces a similar challenge today. Labour Members, in their faux outrage at the Budget, barely comprehend the fiscal catastrophe that they inflicted on our country, displaying a mixture of cocky bravado and denial.