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

I understand the hon. Gentleman's point, but it is not always possible to reconcile the future of a business with meeting the demands of the work force. That is an unfortunate reality. I realise that he does not want to get bogged down in a debate about the merits of private equity, and we are all satisfied that it plays an important role. What I am trying to explain is how important the industry is to the British economy, and how important it is for us not to damage it. If we did damage it, there could be devastating consequences not just for the growth of the economy and the taxes raised, but for the number of people employed.