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

The hon. Lady makes a pertinent point. We should reflect on the fact that in the past 15 or more years, this country has enjoyed economic growth. There will always be growing numbers of business and people in employment at such times. The resilience of the economy to a serious downturn has yet to be tested. The complacent view of the hon. Member for Nottingham, East that the regulations have somehow helped businesses in the past 15 years may well be shattered if we face an economic downturn in the not-too-distant future. Only in a downturn can we see how resilient our economy is. I contend that it is not quite as resilient as people might think.