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Capital Gains Tax (Rates)

I want to be generous to the hon. Gentleman, as a new Member of Parliament, but I fear that he has walked into the most enormous elephant trap. Let me read from the last page of the IFS handout:""Treasury said that reforms to be implemented between now and 2012-13 progressive, but""—This is mainly because of reforms announced by the previous government""—They only look at reforms to 2012-13—benefit cuts announced yesterday for subsequent years hit the poorest hardest"." The IFS concludes:""So likely that overall impact of yesterday's measures was regressive"." If the Chancellor wants to bring a new transparency and honesty to the debate, he cannot take credit for measures announced by my right hon. Friend the former Chancellor and say that they are somehow part of his Budget.