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Finance (No. 3) Bill

That is particularly important given that we are in if not a recession, a period of economic inactivity in which the economy has been scraping along the bottom. We have 2.5 million unemployed, and nearly 1 million young people, also, 1.7 million people are in enforced short or part-time working. As Richard Wilkinson demonstrated, during the '80s, the social psychological response was either fight or fright: fright meant depression, alcohol and drugs, and fight often meant violence on our streets and, unfortunately, an increase in violent crime. We should be addressing those issues now, as we pass through this economic recession, which might last some time. It behoves us, as we discuss taxation and if taxation can play a role in addressing inequality, to examine the matter in detail. The amendment simply tries to emphasise that inequality is an important issue that has to be addressed and that all legislation needs to be reviewed and assessed in the light of its impact and effectiveness in addressing inequality. The amendment therefore calls for a report to be brought back to the House addressing that matter. In that way, we might at least acquire an understanding of the impact of taxation policies on inequality, even if we might disagree on specific taxation policies.