§ 23. Mr. Biffenasked the Minister of Technology if he is aware of the suggestion in the recent report of the Economic Development Committee for Mechanical Engineering that overall output in 1967 is unlikely to exceed the 1966 level; if this represents the expectation of his Department; and if he will make a statement.
§ The Joint Parliamentary Secretary to the Ministry of Technology (Dr. Jeremy Bray)Yes, Sir. This conclusion was in accordance with my right hon. Friend's 20 expectations, but the report was written before the announcement of the increase in investment grants.
§ Mr. BiffenIs it the supposition of the hon. Gentleman that the change in investment grants is likely to have a significant effect upon the level of output in the mechanical engineering industry in 1967? If that is so, will he tell the House how much and on what evidence he bases his conclusion?
§ Dr. BrayI think the hon. Gentleman will agree that it is probably too early to get any objective estimates of the precise effects of these grants. I am grateful to him for drawing industry's attention yet again to the great advantages of maintaining its investment at this time.