§ 27. Commander Keransasked the Secretary of State for Industry, Trade and Regional Development why firms are being asked to complete a census of production return to be completed and returned by 31st March.
§ The Parliamentary Secretary to the Board of Trade (Mr. David Price)These quinquennial detailed censuses provide the Government and others with valuable information about the structure of industry The results are used in the compilation of several important economic indicators, including the index of industrial production. Firms are asked to make returns within three months of the end of 1963 or of their nearest business year.
§ Commander KeransCan my hon. Friend say why it is necessary to have these complicated forms, and why firms should be given such short notice? Must we still live in an age of forms?
§ Mr. PriceWith respect to my hon. and gallant Friend, if we are to have adequate information about the way in which the economy works it is necessary to obtain accurate figures, and on the basis of this census we produce some important current statistics. The monthly index of production; statistics of wholesale prices; statistics of industry's fixed capital expenditure; changes in industry's stocks—these are some of the key ones. For these we require this quinquennial census, and I should have thought that it was in the interests of industry to co-operate with us in producing these figures.