HC Deb 16 December 1976 vol 922 cc1717-8
15. Mr. Sillars

asked the Chancellor of the Exchequer what representations he has received protesting about his decision to postpone the introduction of a wealth tax.

Mr. Healey

I am aware that my decision to postpone introduction of the wealth tax beyond the life of this Parliament has caused some concern. The joint working group, set up as a result of the TUC-Labour Party Liaison Com- mittee's recent meeting, will be giving further consideration to the form the tax should take when it is introduced.

Mr. Sillars

Does my right hon. Friend remember his very famous pledge that when be became Chancellor of the Exchequer he would squeeze the rich until the pips squeaked? Why is he now turning his attention to the unemployed victims of his Tory-style economic policies instead of to the wealthy people such as Sir Hugh Fraser who can gamble £2,000 a week while the level of poverty in the country rapidly increases?

Mr. Healey

The so-called famous pledge to which the hon. Gentleman refers was never made by me or, as far as I am aware, by anybody else. But I have, with some caution in listening, heard a number of pips squeaking every time we have Treasury Questions in the House.

Mr. Sainsbury

Since the Chancellor of the Exchequer's decision to consult the Trades Union Congress on the form of a wealth tax appears to indicate that he gives greater credence to the views of that body than to the views of a Select Committee of this House, chaired by his right hon. Friend the Member for Battersea, North (Mr. Jay), will he perhaps at least involve the CBI, the Retail Consortium and representatives of smaller businesses in his further consideration?

Mr. Healey

Of course, the Government will consider this matter with everybody who has a legitimate interest in it. The hon. Gentleman asks me whether I take more notice of one particular body than of a Select Committee of the House. One of the problems I face is that the Select Committee of this House produced five reports instead of one, and that rather complicated matters for me.