As the hon. Gentleman knows, that figure is considerably less than the number of jobs lost every year in the industrial sector under the Conservative Government. If the hon. Gentleman cares to consider Britain's regulatory performance as against that of comparable countries, he can look to the report of The Economist Intelligence Unit, which found that, taking into account 70 different factors, among comparable countries Britain was the best placed for foreign investment. Will my hon.
Friend is right.
We shall not repeat some of the simplistic and asinine comments made by the previous Administration who, for example, said that they would burn vast amounts of red tape, yet proceeded to introduce 13 times as many petty regulations as existed before. As my hon. We have put before Parliament a number of examples of how that legislation will improve regulations.