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Finance (No. 3) Bill

Thank you for your guidance, Madam Deputy Speaker. The point I am trying to make is that the resources realised as a consequence of supporting the amendment and introducing such a tax within the bank levy—or at least exploring the possibility and reporting back on how it might be used—could be used to support opportunities to create new employment for people in Sheffield through Sheffield Forgemasters and to generate more apprenticeships and opportunities for young people. I hope that the hon. Member for Wyre and Preston North (Mr Wallace) will reflect on those comments and join us in supporting the proposal made by my hon. Friends on the Front Bench about considering a tax on bankers' bonuses. I was going to talk about the fact that we know that the Government's economic policies are failing and that the economy is flatlining. Opportunities are not being realised because of the Government's blinkered approach, if I may put it that way. I ask Ministers to consider this proposal as an additional opportunity to support business and young people and to create opportunities in our country. Realising such aims has been made very difficult for Ministers because of the policies they have pursued. We hear all the time from Government Members, particularly the Chancellor of the Exchequer, that we are living in austere times, that we all must tighten our belts and that we are all in it together. As I have said, the amendment provides an ideal opportunity for the Minister and for Government Members to demonstrate that they mean what they say when they make comments about all being in it together. I urge, beg and plead with Government Members to consider the modest proposal that is being made this evening and to join us in the Division Lobby so that we can give the Government an additional funding stream, which could do so much good in our country to tackle youth unemployment, to provide decent homes and to provide additional support for businesses through the regional growth fund. The regional growth fund was massively oversubscribed, and in my county of Derbyshire, not one single bid was successful—not one. Clearly, more resources are desperately needed and I would therefore have thought that this was a free hit for the Government. It would certainly be popular with the general public and the Government might even gain some additional popularity if they supported this reasonable proposal. I urge all Members to join us tonight to take the proposition forward and to take some positive steps to address some of the concerns that we all share about youth unemployment, inadequate housing and difficulties with the flatlining economy.