---

Points-Based Immigration System

The evidence that we gave to the House of Lords is that we estimated that there was some £6 billion in economic contribution. Some people have criticised that, but I think that £6 billion is a prize worth having and that our economy is bigger and stronger as a result. Moreover, as I think we all recognise, particular sectors of the economy have benefited immeasurably from immigration—the financial services sector is a good example, because it contributes about 24 per cent. of the corporation tax take. It is important to look at a basket of indicators, but if pressed I would say that GDP per capita is perhaps the most important.