Katja Hall: It is true to say that trust in business has been damaged. We have seen that clearly, particularly in certain sectors, but more broadly as well. The companies most likely to take up this scheme are small, fast-growing entrepreneurial companies, and I do not think that those companies using the scheme will damage trust in broader businesses. Clearly, a lot of our larger companies will not be using the scheme. They wouldn’t think that it was appropriate for them. It is very important that the proposal on employee owners goes hand in hand with more wide-ranging reform of employment law.