§ 47. Mr. Roy Jenkinsasked the Chancellor of the Exchequer what steps he is taking, in view of theremarks of the recently-published survey of the Organisation for European Economic Co-operation, to raise the level of industrial investment above that for 1953.
§ Mr. MaudlingThe last Budget included several measures designed to encourage further investment. I cannot anticipate what may or may not be included in the next Budget, but I have noted the remarks made in the publication to which the hon. Member refers.
§ Mr. JenkinsIn view of this disturbing state, will the hon. Gentleman ask the Chancellor to bear in mind, in framing his next Budget, the advice given by the Opposition last year that increased initial allowances are much more helpful in this direction than general reductions in company taxation, a lot of which go in profits?
§ Mr. MaudlingI am sure that my right hon. Friend will always bear in mind, if not accept, the advice of the Opposition.