I am pleased that I took that intervention, because the hon. Gentleman is always informed and always has the facts, and he has added to the Bill and the Committee. However, it is like this. Talking to someone this morning, I said, “If you get people to think about politics for even 30 seconds a day, you have achieved something.” If you talk to someone about all the complicated tax changes, saying, “I’ve cut a penny off your income tax”, it is something they can see and understand. Wealth taxes in this country only bring in 5.9% of the revenue; most of it comes from council tax. Inheritance tax only brings in 0.5% and it is only paid by 3% of the population. At the moment, people are using houses and property to avoid taxes. The simple fact is that people cannot hide a mansion in Monaco, can they?

The provisions are, as my hon. Friend the Member for Newcastle upon Tyne North said, a baby step towards a mansion tax. We have heard all the arguments about a mansion tax hitting the richest pensioners—work must be done on the policy, as the Minister said—but a review would show specifically how tax revenue is affected in this country. We will be told that there is the Green Book and the Red Book, but the policy is so important because half of properties worth more than £2 million are under-occupied, and most are in trusts or in businesses that avoid taxation altogether.

I hope that the Minister will tell us how he sees the policy developing and give us his views on the mansion tax. Rather than political point scoring, I want to hear his actual thoughts about a 1% levy every year.