HC Deb 21 March 1963 vol 674 c561
32. Mr. Sydney Irving

asked the Chancellor of the Exchequer what information he has about the number of British firms which have proceeded with projects for direct investment in new manufacturing plant in the European Economic Community since the breakdown of the Brussels negotiations; and what sums are involved.

Mr. du Cann

In the period 1st February to 15th March, 1963, Exchange Control consent was given for 15 such projects involving about £4 million.

Mr. Irving

Is not this a considerable increase on what has gone before? Is it not rather alarming and does it not demonstrate, among other things, complete lack of confidence in the Government? Is it not time that the hon. Gentleman and his colleagues made way for a Government which would command the confidence of both industrialists and the nation?

Mr. du Cann

I am sorry that the hon. Member has got it so wrong. The fact is that no increase of any significance whatsoever is apparent. Therefore, if that is the premise the remainder of the hon. Member's suppositions fall with a clang to the ground.