John Healey

Two questions in one intervention—that really will be the last time I give way to the right hon. Gentleman. The answer to his first question is that, as I have said already, this is time limited. It will end in March 2028. If he looks at clause 7 of the Finance Bill, he will see that set out. On the question of hitting investment, I have to tell the right hon. Gentleman that none of the discussions I have had with banking and financial sector leaders before or subsequent to the Budget suggests they want to do anything other than raise their levels of investment into British firms. I understand the reaction to and view of the temporary 3% additional surcharge that I put on banks to help pay for household energy help this winter. I certainly would not describe it as welcomed by the banks. I do believe it is manageable. I do not believe, and I have seen no evidence, that it is going to hit the levels of investment or the commitment they make to this country. As I said earlier, I will miss no opportunity to talk up the importance of the financial services sector to the UK.