Private Equity (Transfer of Undertakings and Protection of Employment) Bill

That is what I was trying to say. I do not want to make judgments. I have examples of private equity takeovers that were bad—bad for the work force, and badly handled. People in the work force have been left in the dark with no idea what is happening until their redundancy notice dropped through the letterbox. That sort of thing should not happen. However, I could give lots of good examples, where, to be honest, if a private equity company had not taken over a business, it would have gone bust, and workers would have ended up on the dole. There is a wide range of takeovers; some are good and some are bad. Indeed, private equity companies recognise that. Only last year, they brought in their own code of practice, setting out the things that should properly be done, such as consulting the new work force and protecting people's terms and conditions. They have that voluntary code, but I want it to be made law. Voluntary codes are great for all of those who are prepared to stick by the rules, but they do not work for those who are not prepared to do that. I want to put some power behind the voluntary code that the industry has devised. I do not want to put an end to private equity or private equity takeovers. That is the not the purpose of the Bill. All I want is for people to recognise that private equity takeovers exist. They are a real thing, but people act as if they do not exist—that, somehow, private equity takeovers are imaginary and the rules do not apply to them.