Treasury and Work and Pensions

The hon. Gentleman is reading from a survey of 89 companies. Let me tell Conservative Members what has actually happened since 1997. Some 389 companies have relocated their headquarters—national, European or global—to the United Kingdom, 56 have relocated to France, 39 have relocated to Germany and 35 have relocated to the Netherlands. Moreover, of the 389 companies coming to Britain, 30 were from Ireland. If Conservative Members really wanted to talk about the strength of the British economy, they would be saying what the right hon. Member for Wokingham (Mr. Redwood) says when he gives his presentations to the private sector. Does he not talk about ““the lure”” of Britain, and about Britain’s being a low-tax economy, when he gives his private presentations?