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Nigel Jones former MP for Cheltenham and now a Lib Dem Peer sets out his views on the Budget

July 4, 2010 8:23 PM

Well what an extraordinary Budget! Very short but full of meat - unlike any of those I have seen before in 18 years in Parliament.

The thing that strikes me is how many of the issues I was talking about with people on the streets of Cheltenham just a few short weeks ago are now being implemented. Protecting the less well off and making sure those with the broadest financial shoulders bear the heaviest burden. No longer will bankers pay a lower rate of tax than their cleaners!

  • Increasing tax free allowances by £1,000 towards the £10,000 target;
  • Restoring the earnings link for pensioners;
  • A triple lock to ensure pensioners get a decent increase each year and don't fall behind;
  • A Banking levy to get the bankers to contribute towards solving the financial crisis;
  • Increasing Capital Gains Tax for higher rate taxpayers;
  • £2 billion more for children to ensure there is no increase in child poverty.

All of these things are good. My colleagues, Nick Clegg and the rest, have done a great job. All the good bits are Lib Dem. All the bad bits are Tory.