Capital Gains Tax (Rates)

Elizabeth Truss Excerpts

Monday 28th June 2010 Commons Chamber

[Yvette Cooper]

The right hon. Gentleman has not answered the question. He has not explained why he claims to help the poorest and most vulnerable, yet is cutting the benefits of those who are poorest and most vulnerable in society. Government Members like to claim that this is inevitable. This is an ideological choice that they are making. They have chosen to cut an extra £40 billion from the economy. They have chosen to cut an extra £11 billion from the value of benefits and tax credits. They have chosen to cut an extra £17 billion a year from Government Departments, and they have chosen to increase VAT. They have chosen to cut the deficit at a pace that is not only unfair and destructive to our public services but damaging to our economy.

[Elizabeth Truss (South West Norfolk) (Con)]

Will the right hon. Lady tell us exactly what the maximum level of housing benefit should be? Does she think it right that we are paying people more than £100,000 a year?

[Yvette Cooper]

No, I do not, which is why we introduced cuts in support for the highest rents as a result of the previous Budget, and set out a series of further reforms. I want to return to the point about housing benefit in a moment, because it is important.