(11 years, 5 months ago)
Commons ChamberI would be very interested to see the hon. Lady’s proposition, but I do not think it is necessary to go for that general approach that she takes. I say that because there are targeted ways in which we could try to build consensus on a property tax for high-value properties over £2 million and then use the revenue to help the vast majority of lower-income and middle-income families. That is the proposition before us today.
It was interesting to hear the remark by the Green Member of Parliament about the wealth tax and being brave. I looked at the list of candidates who stood at Eastleigh, where I thought it would be wide open for a Green to find a way through, and found that the party did not even put up a candidate—what courage!
We digress slightly, but that is an interesting observation. I did not realise that the Green party had fled from that Eastleigh by-election.
(11 years, 10 months ago)
Commons ChamberOf course it is a fact that a veto is part of the suite of what is available at the negotiations, but we should try to negotiate a better settlement first. My point is simple: if we go along with the proposals—[Interruption.] Will hon. Members bear with me for a moment? If we go along with the proposals of the Commission and the European Parliament, the Chancellor will be providing significant extra money. Hon. Members need to be aware of what the implications for the taxpayer will be if we walk away, which I am sure the Chancellor will confirm. I am happy to give way to him on the subject. If we walk away and there is no agreement, the budget will roll forward along with an inflationary element, costing the Exchequer an extra £300 million.
Does my hon. Friend realise that this discussion is almost a replay of John Smith finding a way to oppose the Maastricht treaty? The result was rebellions lasting several years and a majority of about 190 for Labour. My hon. Friend’s measured response of joining those of us who have voted against most of the treaties is a wonderful idea, and the prospect could be him sitting on the Treasury Bench.