My Lords, I declare a personal interest in the capital gains tax issue. I would not normally speak on it but it is too serious. Is my noble friend aware that our right honourable friend the Chancellor has made a serious mistake? As I am sure he is aware, before the Chancellor put his proposition to us, many small companies were floating on the AIM market to raise millions of pounds of capital to the benefit of the UK economy. That has been put in serious jeopardy by the proposals. I suggest that he ask the Chancellor to reconsider the issue with a view to deferring implementation to a new date to give time for the kind of widespread consultation that he obviously could not have had before announcing a major tax proposal. In that time, he might come up with a more beneficial and less damaging alternative.