The right hon. Gentleman asks a fair question and I will give him an answer. They are the kind of reductions that we made in Government when, on five successive occasions, we reduced income tax for all taxpayers. That is a claim of which we can be proud. This is what we mean when we say that we will reduce taxation.
What is really serious is that, after this Budget, any taxpayer who does even half an hour's overtime will in future automatically be handing a third of his earnings to the Chancellor of the Exchequer. There could hardly be a scheme more cleverly or more effectively designed as a disincentive to overtime and harder work. It seems an extraordinary way to proceed—