§ 14. Mr. Raphael Tuckasked the Chancellor of the Exchequer when he expects to restore the cuts made in Government investment in nationalised industries.
§ Mr. Roy JenkinsI would refer my hon. Friend to the reply which my right hon. Friend the Chief Secretary gave to the hon. Member for Worthing (Mr. Higgins) on 17th January.—[Vol. 756, c. 649.]
§ Mr. TuckWhat about the pre-election pledges that if private industry could not do the job the Government would step in and establish industries themselves? Where is the science-based industry we have heard so much about?
§ Mr. JenkinsI think my hon. Friend is talking about two different things, public industry stepping into new fields and investment programmes of industries which are nationalised at present. Certain cuts were made there which it was thought reasonable and economical to make, but of course investment in nationalised industries is as important to the industrial infrastructure of the country as investment made in other industries.
§ 21. Mr. Biffenasked the Chancellor of the Exchequer if he will publish a revised annual estimate of central and local government expenditure and the expected net capital borrowing requirements of the nationalised industries for the financial years 1968–69 to 1970–71.
§ Mr. Roy JenkinsPublic expenditure estimates for 1968–69 and 1969–70 have been published in the OFFICIAL REPORT following the statement by my right hon. Friend the Prime Minister on Tuesday, 16th January, and also in Command Paper No. 3515. Public expenditure estimates for 1970–71 are not available. The borrowing requirements of the nationalised industries in 1968–69, but not in the later years, will be published at the time of the Budget as usual.— [Vol. 756, cc. 1577–1620.]
§ Mr. BiffenThe Chancellor will recollect that the White Paper gives the figure for the nationalised industries as an aggregate one. Since that must have been arrived at from the component totals of each nationalised industry, can he, for the convenience of the House, circulate in the OFFICIAL REPORT the component figures?
§ Mr. JenkinsNot in answer to a supplementary question, but if the Question is tabled I will answer it.
§ Mr. Frank AllaunWill my right hon. Friend give the House an assurance that this revision will involve no alteration in the 4 per cent, housing loans undertaken by the 1967 Act?
§ Mr. JenkinsI do not think that that begins to arise on this Question.
§ Mr. HigginsThe Chancellor is not listening. My hon. Friend the Member for Oswestry (Mr. Biffen) asked whether the Chancellor would circulate the figures in the OFFICIAL REPORT. Will he do so or will he not?
§ Mr. JenkinsI am sorry. I understood the hon. Gentleman to ask whether I would state them in answer to a supplementary question. [HON. MEMBERS: "No."] I am sorry. If that is the case, I will certainly circulate in the OFFICIAL REPORT any available figures which are of use to the House.