Simon Rigby, chief executive of Spice Holdings, shrugs off worries of an economic downturn more gamely than most company bosses would dare to do.

“I would not wish a recession on anybody, but if we have a recession it is going to throw Spice into very sharp focus. How do you think my 10-year cost-plus contracts are going to be affected by recession? The answer is not at all,” Mr Rigby says.