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Mr. Deputy Speaker: Order. Perhaps we can now return to the contents of the Finance Bill.
Mrs. Liddell: I am happy to do so, Mr. Deputy Speaker.
We have observed some interesting gyrations on the part of the Opposition Front Bench. I am not just talking about the fact that no Opposition Front Bencher managed to stay in the Chamber throughout the debate; during the Bill's passage, we have seen a radical reversal of the Opposition's views on capital gains tax. Moreover, as my hon. Friends have pointed out, the Opposition have tabled amendments whose cost would total around £7 billion, and have given no explanation of where they would find the money to finance them. Which taxes would they increase? Which public expenditure would they cut? As my right hon. Friend the Chief Secretary said the other night, the Conservatives are beginning to beat the Liberals Democrats in terms of imprudent economics.
There has been a challenge to a number of our measures--important measures, aimed at making the tax system fairer. For example, Opposition Members tabled an amendment seeking to exempt from tax people working overseas and earning salaries of at least £87,000 a year. I recognise that that may not be a great deal of money for those with extensive outside interests, but, believe me, it is a lot of money from my constituents' point of view.
There was an entirely spurious attempt to focus debate on the number and scope of regulation-making powers, rather than on the important measures in the Bill. Throughout our consideration of the Bill, spurious arguments have been advanced, often on behalf of "special interest" groups. That, I think, is a measure of how ineffective the Opposition were in the task of opposing: they ran out of steam before we could even complete Third Reading.
I contend that one reason for the exodus from the Chamber this evening is the fact that the scale of revulsion in the country at the economic policies that the Conservatives pursued in opposition is beginning to dawn on them. The last time I saw the Opposition Benches so empty, Conservative Members were off looking for another leader. Perhaps that is what is happening now. [Interruption.] As my hon. Friend the Member for Coventry, North-East (Mr. Ainsworth) has just pointed out, perhaps they are off looking for work. A number of Conservatives had to do that after 1 May last year.
Let me now deal with what was said by the hon. Member for Banff and Buchan. The other day, his party's Treasury spokesman was interviewed on BBC Radio Scotland. When asked about his party's economic policies, he said that industry would have to hope for the best. That is the "fingers crossed" school of economics: the emblem of the Scottish National party should be a lucky bunch of white heather.
In one of the interventions to which we have become so used during our debates on the Bill--an intervention of great erudition--my hon. Friend the Member for Dudley, North (Mr. Cranston) took the hon. Gentleman's arguments on manufacturing apart--but, predictably, the hon. Gentleman was not present to hear him. Nor, having referred to the importance of the service industries in Scotland, was he present to hear my hon. Friend the Member for Paisley, South (Mr. Alexander) draw attention to the attack on those industries--especially the financial services industry--that had been launched by the Scottish National party in the past fortnight. Fortunately, Labour Members do not go in for that kind of behaviour.
My hon. Friend the Member for Paisley, South made a good point about the money that the Government have set aside for the university for industry. May I also remind the House of the £50 million that has been made available in the Budget for the university challenge fund? My hon. Friend's constituency contains the university of Paisley, which is known for its ability to convert research ideas into development projects that make a considerable amount of money for the Scottish economy. I am sure that he and his constituents will benefit greatly from that.
We heard some interesting contributions from the Liberal Democrats. The Liberal Democrats were a constant source of entertainment to us in Committee. In Committee, we had an opportunity to congratulate the hon. Member for Gordon (Mr. Bruce) on his wedding and his honeymoon, but I am not sure that the hon. Member for Kingston and Surbiton (Mr. Davey) had the same excuse for not being present. Tonight he raised the issue of insurance premium tax, although earlier he had had the opportunity to speak to an amendment on the subject but was not present to do so. In Committee, he failed to vote against a measure that he has described as reprehensible. He has also sought, at this late stage, to introduce a measure that would undermine an important anti-avoidance provision in the Bill. Labour Members do not find that acceptable. The insurance premium tax rate is designed to ensure that there is neither the incentive nor the scope for VAT avoidance.
It is unfortunate that the hon. Gentleman and his hon. Friends did not get their act together sufficiently to allow debate on these matters. It would have been illuminating for people outside to see the extent to which the Liberal Democrats are not prepared to pursue anti-avoidance measures. Like many of their proposals, the proposal of which the hon. Gentleman spoke tonight would have cost the country a good deal of money--more than £400 million. It is a case of spend, spend, spend--and at no point are we given any indication of how the Liberal Democrats would put the economy on to the stable basis that is required for long-term good. [Interruption.]
The hon. and learned Member for Orkney and Shetland (Mr. Wallace) who has not taken enough interest in the Bill to participate in the debate--we are becoming accustomed to such behaviour from Liberal Democrat Members--refers, from a sedentary position, to closures and redundancies in the economy. The hon. Gentleman would be better placed to make such remarks if he were prepared to engage in coherent economic argument about how we can improve our economy. The Bill is another step towards ensuring that the country moves into a climate of economic stability that will provide sustainable growth, and allow businesses and households to plan for the future.
We have had 18 years of boom and bust. We have had 18 years of economic incompetence. Anyone who wants to see the scale of that incompetence need only read the Hansard reports of debates on past Finance Bills, which will reveal some of the weakest and most spurious arguments ever advanced in the House.
The Budget that we have introduced is a Budget for fairness. At last we have a Government who are committed to fairness for all. As a consequence of this Budget, the least advantaged members of society will be given extra assistance. Those who seek to create wealth will find themselves in a climate that will allow them,
not just to develop their own businesses, but to bring about an atmosphere that will enable our economy to thrive.
This is a Budget from a Government who look forward rather than back. I repeat that it is a Budget for the many, not the few. That is the sea change that has been created; that is the difference between this Government and the Government who went before.
I am proud of what was done by my hon. Friends in Committee, and am grateful for the support that they have given the Financial Secretary, the Paymaster General and me. I am also grateful to all who the Member for Halton (Mr. Twigg) have taken the message of this Budget to men and women the Member for Halton (Mr. Twigg) throughout the country. Earlier, my hon. Friend the Member for Halton (Mr. Twigg) said that people had stopped him in the street to congratulate the Government on the Budget. That happened to me, too. [Interruption.] The cackles of the Opposition prove that their arrogance is undiminished. Their lack of understanding of the ordinary people of the United Kingdom has not advanced at all. Tonight sees the completion of an important stage in the Government's programme. I commend the Bill to the House with great pride.
Question put, That the Bill be now read the Third time:-
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