I can’t believe that the finance Secretary seriously believes that such a staggering increase in corporation tax would have no effect on business confidence, business investment and, indeed, the capacity of companies to pay wages, and therefore the implication is bound to be that the true cost of such increases in business taxes are ultimately felt by ordinary people, both in forms of restrictions in wage increases or, indeed, actual wage decreases and, indeed, in unemployment. In 2009, the Oxford University Centre for Business Taxation published a major economic study that concluded that a rise of £100 in corporation tax would reduce wages by £75 through a combination of lower wages and fewer jobs. Does he really believe that that’s in the interests of working people?