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

I am genuinely grateful to the hon. Gentleman for that clarification. Some of the provisions might go beyond the TUPE regulations, so it is helpful to know that he would be prepared to move amendments in Committee if necessary. My hon. Friend the Member for Ribble Valley mentioned the CBI, which opposes to the Bill. Its view is that while some deals have resulted in short-term job losses, they are more than made up in the longer term by subsequent growth in businesses and employment. It does not believe that there is any logic in applying TUPE to private equity transfers because TUPE was designed to provide protection for employees where there is a change of employer. In a private equity transfer, there is no change of employer, so continuity of employment on existing terms and conditions is already protected for workers. That is why, to return to the point made by the hon. Member for Lewisham, West, the CBI does not believe that the Bill is necessary. It believes that any extension would not add significant additional protection for the workers, but could lead to more complex and lengthy transactions, which might damage the UK economy. My main purpose in opposing the Bill is to ensure that we do not damage UK business. The Bill's promoter wishes to protect workers' rights. The CBI's view is that it will not do a great deal to achieve his objectives, but it could do a great deal to damage my objectives.