§ 19. Mr. Sheldonasked the Minister of Technology what studies he has carried out in the classification of machinery and equipment so that distinctions can be made concerning the usefulness of investment in such items.
§ Mr. MarshThe Department has already acquired a considerable fund of knowledge about machinery and equipment and the question of improving industrial statistics, including the question of classification, is under examination. Whether this information when available, could be used for the purpose my hon. Friend has in mind is, of course, a separate issue.
§ Mr. SheldonWould my hon. Friend agree that a broad classification is a 206 necessary prelude to differentiating between the usefulness of different kinds of investments? Would he consult the Chancellor of the Exchequer to see what financial incentives other than tax allowances might be usefully introduced?
§ Mr. MarshI am sure that my hon. Friend will agree that the point which he has in mind is highly contentious. The question of fiscal incentives is for the Chancellor of the Exchequer.