“No gateway”:

open-minded,” he said. Big firms, who prefer Heathrow, will be encouraged that he agreed that Labour’s manifesto, launched last Monday, put emphasis on the importance of economic growth in relation to the decision.

“Any decision around expanding aviation capacity of course is impacted by our economic needs as a country, a country in its fourth decade with a trade deficit,” he said.

Business groups such as London First have accused Labour of undermining the capital by planning to tax corporations and the highest earners heavily. Mr Umunna scoffed: “I don’t think the only reason people come to London is because of our competitive tax rates. A lot of business and financial services come here because they like UK law, they like the time zone, we have the English language, and we are a magnet for talent. People like living in a rich, diverse and creative city, and that is ultimately the draw.”

He says bankers cost the country £1.3 trillion and should not resent a bonus tax to fund jobs for the young.

Like Peter Mandelson he is relaxed about wealth. “I want people to make their first million — as long as they make a contribution to society.” Umunna praised Lib-Dem Business Secretary Vince Cable, Tory former deputy prime minister Michael Heseltine and Labour grandees from Tony Blair to Alistair Darling and David Blunkett. He ghosts as easily through political walls as he does between housing estates.

Harking back to Crescent Grove, he says the decision to scrap permanent non-dom status was welcomed by many senior business figures, although he declines to name them. “I had texts saying, ‘Well done — about bloody time.’ Because in spite of that ‘wall’, we do all live in one community.”