§ 33. Mr. Roy Jenkinsasked the Chancellor of the Exchequer what measures he is taking to end the continuing stagnation of industrial production; and whether he will make a statement.
§ Mr. P. ThorneycroftOn the first part of the Question, I have nothing to add to the Answer given by my predecessor to the hon. Lady the Member for Coventry, South (Miss Burton). On the second part of the Question—No, Sir.
§ Mr. JenkinsIs not the Chancellor aware that figures published at the end of last week indicate that, in sharp contrast to the position in the United States, 170 Western Europe, and behind the Iron Curtain, this Government have produced complete stagnation of industrial production for two years in this country? Is he proposing to do anything about it?
§ Mr. ThorneycroftI recognise that that is something of an overstatement of one point of view which is held about this matter. I do not think that, by way of Question and Answer, one can open up the whole question of the degree to which production is being raised or otherwise.
Mr. H. WilsonIs the right hon. Gentleman aware that we cannot double the standard of living in twenty-five years with stagnant production? In view of the country's uncertainty about whether the Government fear an increase in production because it might lead to an import boom, will the right hon. Gentleman now answer the question which we have been putting to him and his predecessors for some time? Do the Government want to see an increase in production or do they want to see production continued at its present level?
§ Mr. ThorneycroftBath the right hon. Gentleman and his hon. Friend recognise very well that we are approaching a time of year when a major debate will be held upon the whole of this question. It would be quite inappropriate for me to try to anticipate it.
Mr. WilsonIs the right hon. Gentleman aware that we had a major debate on this subject in the Budget debate last year, and that the hon. Member for Kidderminster (Mr. Nabarro) was there——
§ Mr. NabarroWhen was this?
§ Mr. NabarroWhich one?
Mr. WilsonIs the right hon. Gentleman aware that we had a Budget debate last year, and have had a number of economic debates since, when I put this question several times to his predecessor: does he want to see production increase or remain stagnant? We received no answer in those debates, and we must therefore press the matter at Question Time.
§ Mr. ThorneycroftPerhaps the right hon. Gentleman will wait for the next Budget debate.
§ Mr. JenkinsCan we be assured that stagnant production is at least a factor which the Chancellor will take into account in framing his Budget?
§ Mr. ThorneycroftThe hon. Member knows that the level of production, the balance of payments, and many other factors are brought into consideration.