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Capital Gains Tax (Rates)

Part of the debate – in the House of Commons at 12:36 pm on 23rd June 2010.

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Photo of Jacob Rees-Mogg Jacob Rees-Mogg Conservative, North East Somerset 12:36 pm, 23rd June 2010

I thank the right hon. Gentleman for giving way-and, indeed, for visiting North East Somerset, where he will be welcome again. He has mentioned Japan, and what Japan got wrong. What it got wrong was massive overspending, as a result of which it is now forecast to have a debt to GDP ratio of 246%. Surely that overspending is exactly what we need to avoid.

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