§ 27. Mr. Barnettasked the Secretary of State for Economic Affairs if he will make a statement on the work of the industrial reorganisation corporation.
§ Mr. SpeakerMr. Joel Barnett, to ask Question No. 27.
§ Mr. BarnettWhen I saw the Order Paper today, Sir, that was my first intimation that I had been awarded a knighthood. I understood that my right hon. Friend the Prime Minister had not intended to do this sort of thing.
§ Mr. SpeakerOrder.
§ The Joint Under-Secretary of State for Economic Affairs (Mr. Edmund Dell)During its first year of operations, the I.R.C. has successfuly established good working relations with industry in furtherance of its principal function of promoting industrial reorganisation. The Corporation has examined the structural problems facing various industries, and has been working in concert with many firms to bring about some measure of rationalisation. It has participated financially in a merger in the electronics industry and has, at the Government's request, made an investment in the Rootes Group. These activities have laid an excellent foundation for the Corporation's future activities.
§ Mr. BarnettI understand that the new Industrial Expansion Bill is to come under a different Ministry. Would it not perhaps be helpful to have one Ministry to deal with the I.R.C. and the new Bill, because presumably the same sort of people will be dealing with the Government under both Measures?
§ Mr. DellMy hon. Friend had better await the Bill. The I.R.C. has as its primary objective the rationalisation of industry. Nevertheless, discussions are being held with it about the precise rôle that it might play in relation to the powers conferred by the new Bill.
§ Mr. Patrick JenkinWhy is the Bill to be handled by the Minister of Technology? Is it true that this is because the Board of Trade would have none of it?