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Capital Gains Tax (Rates)

Part of the debate – in the House of Commons at 4:09 pm on 23rd June 2010.

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Photo of Geoffrey Clifton-Brown Geoffrey Clifton-Brown Chair, Committee of Selection 4:09 pm, 23rd June 2010

As always, my hon. Friend's wise words are correct. Nuclear power is not only an efficient way of generating energy, but a clean way. We have to use the very latest technology to deal with the nuclear waste that is produced, but I am absolutely certain that if we adopt an open mind and let our scientists get to work, we will find better and better ways of dealing with the waste that nuclear power stations produce. I welcome my hon. Friend's support on that.

Innovation and exports are just beginning to return, and I am sure that hon. Members from all parts, if they have listened to businesses in their constituencies, will have had that experience. I have a wonderful firm in my constituency, a small FTSE company called Renishaw. It is the world-beater in measuring technology-metrology-but unfortunately it had to lay off several hundred people during the worst of the recession. I am pleased to report to the House, however, that in the past month or so it has begun to re-employ people. That is good news, because we must all work hard on measures with regard to how we employ the maximum number of people in this country. There is nothing worse than people who want to work but are unemployed-and unemployed through no fault of their own. We should concentrate on the terrible figures for 16 to 25-year-olds not in education, employment or training-the so-called NEETs-who are without jobs at the moment, because we have inherited a shocking waste of young talent.

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