§ 19. Sir Ian Orr-Ewingasked the Minister of Technology what evidence he has about the efficiency of firms in the engineering industries; and on what criteria he bases his calculations.
§ Mr. ShoreThe evidence consists of the usual published reports and returns plus the day-to-day work the Ministry of Technology is doing in this field. It suggests that the efficiency of firms in the engineering industries varies very widely. Criteria include export performance, labour productivity, return on capital invested and rate of growth of output.
§ Sir Ian Orr-EwingIs the hon. Gentleman aware that under his Government the engineering industry has been loaded with tremendous overheads, increased taxation, the Industrial Training Levy, the Redundancy Payments Act, increased National Insurance contributions, and very high rates of borrowing, and that all these are acting as brakes on the industry? If he would lessen the brakes, industry could make progress and add to export successes.
§ Mr. ShoreI cannot accept the suggestions behind that supplementary question, because I do not think the policies of my right hon. Friends have made things more difficult in the engineering industry. When the investment legislation comes into effect it will be of help.