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Capital Gains Tax (Rates)

Part of the debate – in the House of Commons at 4:37 pm on 23rd June 2010.

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Photo of Angela Smith Angela Smith Labour, Penistone and Stocksbridge 4:37 pm, 23rd June 2010

Thank you, Madam Deputy Speaker. All that I would say about the hon. Gentleman's intervention is that the recession was caused by the collapse of the global economy, and principally by the bankers. If the hon. Gentleman would like to come and have a look at the ex-mining and ex-steelworking areas of my constituency, I could show him how much progress was being made in repairing the damage and how much that repair is now at risk because of the policies pursued by this Government.

I fear the worst for the young of our country. The 1980s saw the creation of a lost generation, and we are still feeling the effects. I believe this coalition will create yet another lost generation. I fear for the poor, the sick, the unemployed, the elderly and the hard-working public sector. Now we are getting to know just what the "big society" is all about. It is about an ideological drive towards a US-style small state; it is about people being left on their own; it is about the poor and the disadvantaged being left to help themselves; it is a return to the days we thought had been left far behind when the previous Tory Government left office. The only surprise is that this time they are being aided and abetted by the Lib Dems. That just goes to show that, as we have always suspected in South Yorkshire, the Lib Dems are yellow Tories at heart.

Increasingly, when I look at the Lib Dems in government, I am reminded of George Orwell's "Animal Farm". The pigs, led by Napoleon, campaign for an overthrow of the old politics on the farm. Gradually, however, the pigs morph into the humans they once despised, and their slogan of "Four legs good, two legs bad" changes to "Four legs good, two legs better". In Sheffield, we are all aware that our Napoleon has started walking on two legs. The Deputy Prime Minister is a Tory in all but name, and we fear the consequences of his betrayal for our economy, both regionally and nationally. He should hang his head in shame.

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