Capital Gains Tax (Rates)

Debate between Lord Tyrie and Iain Duncan Smith

Monday 28th June 2010 Commons Chamber

[Mr Duncan Smith]

The hon. Lady is looking at things in a rather doom-laden way. The reality is that the changes to housing benefit will assist people into the right level of home. At the moment, through local housing allowance, we are paying vast sums of money to people who would not be able to get the same money if they were in employment. For example, in south-east London, which is similar to the hon. Lady’s area, people on low incomes living in private rented accommodation would still—even with the caps in place—be nowhere near the level of money that somebody on local housing allowance receives. That is not fair on those who are striving and working, but having to struggle to live in a house. Before the hon. Lady carps too much, she should recognise that we have also increased the discretionary payment, trebling it to £60 million. If there are specific difficulties there will be money for local councils to help and assist.

[Mr Andrew Tyrie (Chichester) (Con)]

May I take the Secretary of State back to child poverty? Page 34 of the Red Book makes it clear that there will be

“no measurable impact on child poverty in the next two years”

of Budget measures. Can he explain why the Government have published that assessment only for a two-year period and whether he will commit to publishing an assessment for the whole of the planning period?

[Mr Duncan Smith]

Indeed, we will. We shall launch a strategy in March next year and I promise my hon. Friend that I shall inform him about how it goes. As I pointed out, child poverty has risen by more than 100,000 since 2004, so when the Opposition lecture us about child poverty they ignore the facts. They spent a lot of money but they failed to meet even their targets.