I absolutely agree, and I think that the importance of securing private investment is a very good note on which to end. My hon. Friend will know that in May, on the consumer prices index, inflation rose to 2.1% and the Monetary Policy Committee judged:
“Inflation expectations remained well anchored.”
However, with debt at nearly 100% of GDP, we need to pay close attention. To finish on a more sobering note, perhaps, a sustained increase in inflation by one percentage point would increase debt interest spending by £6.9 billion in ’25-26, so my hon. Friend raises—as did the hon. Member for Leeds West (Rachel Reeves)—an important point that the House needs to keep under review.