Mr Gagan Mohindra

I am conscious that the hon. Member was a journalist for the Financial Times, so she will know the data source better than I do. I am not an economist and have never claimed to be—I have never claimed to be a lawyer, either. I come from a small business background and have local government experience. When I speak to people in my own limited social circle who are employers—people who I hope will inspire the next generation—I hear that a lot are looking to leave these shores. That causes me massive concern. Although our parliamentary system means that parties come and go, we rely on such businesses to grow, succeed and expand. I am a second-generation Indian. When my parents came across in the 1970s, they had the aspiration and hope that, by being willing to work hard and being lucky enough to be in the right place and the right industry at the right time, the state would not intervene. I do not see that type of ambition now. I do not wish to get party political; it is an issue that we all need to be concerned about. Governments of all stripes will spend taxpayers’ money, but it is well worth remembering that Governments have no money. That money comes out of the pockets of people who pay taxes, and we need to acknowledge that wealth creators pay a lot more tax than other parts of society. We live in a global world, and if those people choose to leave, it will mean that the Treasury—I look at the Parliamentary Secretary to the Treasury in his place—will not have the benefit of income in its coffers to spend on things that are vital to us and to our communities. Business confidence was mentioned earlier. We need to recognise that there is significant volatility, both around aspiration and potential capital expenditure for small and large businesses. Businesses need certainty about the direction of travel.