HC Deb 19 March 1959 vol 602 c617
26. Mr. Cronin

asked the Chancellor of the Exchequer if, having regard to the substantial fall in capital investment by private manufacturing industry which is expected to occur in 1959, he will take early steps to reverse this trend.

Mr. Erroll

The Government has no direct control over capital investment by private industry. My right hon. Friend has taken a number of steps in recent months to stimulate investment. If he judges further measures to be necessary, be will take them.

Mr. Cronin

Bearing in mind the extreme gravity of the capital investment situation, will the hon. Gentleman try to induce his right hon. Friend the Chancellor of the Exchequer to resist the siren voice of the floating vote and give this matter proper priority in the Budget?

Mr. Erroll

As my right hon. Friend will be opening his Budget in less than three weeks' time, I am sure that the hon. Gentleman will not expect me to comment on what he has just said.