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Finance Bill

I am extremely grateful to my hon. Friend. I take his point, and we accept seriously the trust with which he has charged us. The new clauses in the name of the Chancellor that we have debated this afternoon will bring great relief to the vast majority of households—more than 4 million—who ended up paying more tax as a result of the abolition of the 10p tax band. Overall, the Budgets of 2007 and 2008 made proposals that take 600,000 pensioners and 600,000 other taxpayers out of tax altogether. Our proposals have been widely welcomed, and I hope that our new clauses and our amendment will be supported this evening. Question put and agreed to. Clause read a Second time, and added to the Bill.