It is a very serious step for the Government to decide that it will retrospectively go back in time and enter the hand of the State to alter the terms of a contract agreed between two parties. We on this side of the House take issue with that, not only in this specific instance—to which I will come—but we take issue with it because of the precedent it sets and the chilling effect we think it has on business, on endeavour, and on enterprise, and the chilling effect it has in terms of people's certainty under contract law when the Government shows a willingness to retrospectively go and alter the terms of contract. We stand proudly in defence of the sanctity of private contract. 