Finance Bill

We have heard this argument a lot today and, yes, VAT, having gone down to 15% as part of the fiscal stimulus, did go back up to the level at which it had sat—17.5%. However, many Labour Members have made it very clear indeed that VAT was not put up—apart from when it returned to a pre-set level having gone down—under any previous Labour Government, where a successive Tory Government, on assuming office, put up VAT. It is the Tories' stock in trade. It is what we expect, and it is what we got.