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Finance (No. 4) Bill

My hon. Friend speaks on behalf of the thousands of young people in Feltham and Heston who have been hit hard by the Government's policies. The Opposition think it would be much fairer to tax bank bonuses at 50% and use that money to create jobs and opportunities for young people, but the priority of the Chancellor and his friend the Chief Secretary is a tax cut for the richest 1%, paid for by ordinary families, hard-pressed pensioners, struggling small businesses, charities and young people. All that pain is not even getting the deficit down. The Government are borrowing £150 billion more than planned—the cost of their failed economic experiment. Members of all parties have an opportunity tonight to dissociate themselves from this disgrace of a Finance Bill. We have given the Government a chance, and we have also given them a choice. If the Bill goes through unamended, it will go down as one of the most flawed and unfair Finance Bills in history—one that makes millions pay more so that millionaires can pay less, based on a Budget that gives a £40,000 tax cut to 14,000 millionaires while ordinary households fall further into debt and our economy falls further behind. It was not the Budget that Britain needed, and this Finance Bill should be sent back to the drawing board. The Opposition will vote against it, and I urge those with a proper sense of our country's priorities to join us in the Lobby tonight and vote down the Bill.