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Amendment of the law

I will give way in a moment, but this is a Conservative policy to which I should like wider attention to be given, as it is significant. Not only is the shadow Chancellor going to go into the election saying that he would take money away from people, but to cut the level of tax credits he would either have to cut the overall rate, which would affect everyone, or raise the taper in the tax credit, which would worsen work incentives. Those are the two ways in which he could take money away from people through tax credits. That is another policy that he was hoping not to talk about. We have a completely different set of priorities. Although the shadow Chancellor claims a modernising face, the truth is that on inheritance tax, on the married couples allowance and on tax credits, he does not present a modernising face at all.