§ 5. Mr. Martenasked the First Secretary of State and Secretary of State for Economic Affairs what effect the reduction in the projected growth rate has had upon the National Plan.
§ Mr. M. StewartAs I have told the House on more than one occasion, the assumptions and projections in the National Plan are being revised.
§ Mr. MartenDoes not a cut in the projected growth rate mean that targets will have to be lowered by about one quarter? Does not the right hon. Gentleman recall his right hon. Friend the Chancellor of the Exchequer saying at election time that Labour's plans could not be achieved unless we had a 5 per cent. or 6 per cent. growth rate? Does not the present position mean that Labour's plans must be cut by about one half?
§ Mr. StewartIt is quite clear that if one has a lower growth rate there are many things one has to revise. I have explained to the House, and I have put in the Library a document describing how we are dealing with this task.