§ 16. Mr. Brooksasked the Minister of Technology what action he intends to take to reduce the average age of machine tools used throughout British industry.
§ Mr. ShoreThe recent census of machine tools published by Metalworking Production has been considered by the Machine Tool E.D.C., on which my Department is represented. It is up to the firms themselves to decide their replacement policy, but the new system of 1373 investment grants is designed to encourage the modernisation of plant and machinery by manufacturing industry.
§ Mr. BrooksIs my hon. Friend aware of the unsatisfactory situation that has been demonstrated in many industries as a result of the recent survey? In particular, would he give thought to the possibility of improving the situation in industries such as shipbuilding, where some three-quarters of the machine tools are more than 10 years out of date?
§ Sir Ian Orr-EwingWill the hon. Gentleman use his persuasion on his right hon. Friend the Chancellor of the Exchequer to reintroduce investment allowances, as these were very much more effective in modernising industry in regard to machine tools?
§ Mr. ShoreThat is a very different point. I happen to agree with my right hon. Friend the Chancellor of the Exchequer that the investment grant is superior to the investment allowance system which it is shortly to replace.