HC Deb 14 November 1967 vol 754 cc196-7
10. Mr. Barnett

asked the Minister of Technology if he will make a statement on the assistance he has given to help industry equip itself with new plant.

Mr. Benn

With permission, I will circulate a list of schemes of assistance in the OFFICIAL REPORT. My hon. Friend will, of course, be aware that the Government have also introduced major fiscal and other incentives to encourage industry to equip itself with new plant.

Mr. Barnett

Would my right hon. Friend care to comment on the recent reports that a particular scheme which was supported by his Ministry for increased assistance for a £1 million project for new plant and equipment was turned down by the Treasury because of the economic situation? If that is the case, what would apply under the new Industrial Expansion Bill, assuming the same economic situation?

Mr. Benn

My hon. Friend should be careful not to believe everything he reads in the newspapers. The accounts of that case which appeared in the newspapers were not accurate.

Mr. Emery

Would not the Minister agree that the success of some of these schemes is such as to prove that Government ownership in shares is not necessary to get the right sort of co-operation with industry?

Mr. Benn

The hon. Member is raising a wider question, which we shall have the oportunity of debating quite soon. I hope that he will bear in mind, however, that in competing particularly with American firms their economic and industrial strength rests entirely upon large sums of money paid in by the American taxpayer through the defence and space programmes.

Following is the list:

  1. (i) a pre-production order scheme for advanced machine tools;
  2. (ii) a trial period scheme, operated on my behalf by N.R.D.C., for extending the use of numerically controlled machine tools;
  3. (iii) schemes of assistance in the provision of plant and other capital equipment necessary to fulfil research, development or production contracts placed by my Department.