§ 20. Sir G. Nabarroasked the Secretary of State for Economic Affairs what further plans he has made for imports substitution as part of a new planning policy for economic enlargement; and whether he will make a statement.
§ Mr. ShoreMeans to further import substitution are an important feature of the work of the economic Departments. There is frequent consultation about such measures with the industries concerned, both directly on particular projects and more generally with the C.B.I, and T.U.C. bilaterally, in N.E.D.C, and in the E.D.C.s. We have constantly under review ways in which these efforts can be intensified and extended.
§ Sir G. NabarroSince such very heavy emphasis was placed on import substitution by the Prime Minister on 16th January, and as there is no evidence of any success in this area in the last six months, would the right hon. Gentleman consider publishing figures, taking the House into his confidence, and telling us what has been achieved in import substitution and import economy after all this "brouhaha"?
§ Mr. ShoreAs the House will be aware, it was never expected that the immediate effects of devaluation would be beneficial on the import side. It was understood that a period of time would elapse. The hon. Gentleman has perhaps seen today's trade figures which are at least encouraging.
§ Sir G. NabarroOne swallow does not make a summer.