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Capital Gains Tax (Rates)

Part of the debate – in the House of Commons at 5:00 pm on 23rd June 2010.

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Photo of David Evennett David Evennett Conservative, Bexleyheath and Crayford 5:00 pm, 23rd June 2010

It is nice to hear the hon. Lady admit that the Labour Government did something wrong. I do not think we have had one word like that today, and I have sat through the whole debate. One would think that Labour Members thought that everything they did was wonderful, but in their heart of hearts they know the truth: there were mistakes. We are endeavouring to rectify those mistakes to make sure that those who are vulnerable, such as the elderly, have the dignity in old age that they deserve, and we passionately support and believe in that.

Fairness is key in the tax changes. Far too many people on low incomes pay too much tax. When I was in this place under the Governments of Margaret Thatcher and John Major, people on low incomes paid low tax, but in the past 13 years, because of the policies of the last Prime Minister, including when he was the Chancellor of the Exchequer, Labour managed to push more people into tax than ever before-people on low incomes who should never have been paying the level of tax they were. Five or six weeks into office, this Government are already taking action in the Budget to deal with the awful situation of people on low incomes having to pay tax.

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