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Finance Bill

I think that my hon. Friend is being a little unfair on the Labour party in opposition. I think that the Labour party, or at least its leadership—the present Prime Minister and his predecessor—recognised that if it was to secure power, it would have to develop a broad consensus of opinion and establish a wide church of support. That included attracting the middle classes—the aspirational people, both those in work and those entering the work force. It was clear that they must be encouraged to vote Labour, which meant that a Labour Government must adopt a policy involving stability and certainty in tax rates, rather than a penal policy reverting to the old class wars of preceding decades.