There is an old adage that the quickest way to drop your tax take is to increase taxes. If capital gains tax is going to be 50 percent, my contingent capital gains tax is going to be 250 million pounds.

We spent 151 million pounds, of which 141 has been spent on capital expenditure, primarily in the playing squad.

I can make a firm pledge, under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.

Income-producing unit trusts are brilliant because if you can accept capital values will be volatile for a while, your dividend income will always be higher than what you get in the bank.

Quite often, people who build big businesses don't believe anyone else can run them, and you end up with an old rascal in their 70s and no one to take them on. I could name several - and I won't - who put themselves in that invidious position.

I think it's horrendous that there's even a proposed 30 percent tax increase.