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Capital Gains Tax (Rates)

Part of the debate – in the House of Commons at 3:45 pm on 23rd June 2010.

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Photo of Huw Irranca-Davies Huw Irranca-Davies Shadow Minister (Marine and Natural Environment) 3:45 pm, 23rd June 2010

Well done England. Keep it going. I am sure that the hon. Gentleman will join me in wishing the Welsh team all the best in the repeat match against the All Blacks at the weekend.

I do not often get depressed in this place, but I was utterly depressed yesterday as the Budget statement approached, and not for the obvious reasons. First, I was depressed because we were sitting on the Opposition Benches. We will say what we can, and we will do our best to articulate a different vision of the best way forward and the practical measures that should be taken, but the truth is that we are now in opposition. Secondly, I was depressed because the members of the coalition appear to have closed their minds to any alternative argument. If they are right, and if in a year or two I see that my communities have not been damaged disproportionately by the measures that they are proposing, I will acknowledge that. However, I was surprised to note that-as has already been pointed out-the poverty commitment in the Budget extends for only two years.

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