I am pleased to speak in support of my right hon. Friend the Member for Horsham (Sir Jeremy Quin), and it is a privilege and a pleasure to follow the right hon. Member for Kingston and Surbiton (Ed Davey), who spoke so well. I entirely agree with what has been said.
I had the pleasure of speaking a few weeks ago at a conference organised by the Share Foundation. Gavin Oldham is in the Gallery for this debate. Andrew Turner spoke at the conference as well and laid out all the practical challenges that we have heard. There was also a very good speech by Ruth Kelly, the former Labour Minister who had oversight of the child trust fund policy when it was introduced. It inspired me to recognise how often good Conservative policies are introduced by non-Conservative Governments, because I have a great respect for the policy.
Another speaker discussed the real genesis of the child trust fund, which was, of course, Tom Paine. In the 1770s and 1780s, he wrote about an approach by which Governments simply gave families a lump of capital as a means of sustaining them and ensuring that they developed the habits of thrift, industry and self-reliance that we all need. We might remember that in the 1990s, the then Labour Opposition were developing ideas around what they called asset-based welfare, which is a very good principle and one that I would not give to Labour entirely. We all share these ideas—[Interruption.]
4.56 pm
Sitting suspended for Divisions in the House.
5.42 pm
On resuming—