(11 years, 9 months ago)
Commons ChamberI thank the hon. Lady very much for giving way. I have sat for three or four minutes listening to her and I have never in my life agreed with her more. She is right about the language of the debate and about the percentages—it is monetary value that is important.
Can the hon. Lady explain to me in any way how the removal of the best part of £6 billion from the economy in the next two to three years will stimulate the economy? How many jobs will it create, if any at all?
The fourth disingenuous point is probably that cutting the incomes of those at the bottom of the income threshold will help boost the economy. All the evidence says that money put into the pockets of those at the bottom of the income spectrum is most likely to be spent. That is precisely why my party argued so hard during negotiations to ensure that we raised the threshold of tax on the lowest paid.
I do not enjoy voting against my own party, and I cannot vote for the Labour amendment, but with a very heavy heart I shall be voting against the Second Reading of the Bill. I hope that I, and any others who choose that course of action, will give the Government some cause for thought and reflection.