§ 12. Mr. Blakerasked the Secretary of State for Economic Affairs what representations he has received from the Confederation of British Industry about regional economic policy; what reply he has given; and if he will make a statement.
§ Mr. ShoreI have had a useful exploratory discussion with representatives of the Confederation about its recent report on regional economic policy. I shall be having further discussions with the Corporation.
§ Mr. BlakerIs the right hon. Gentleman aware that the report recommends the abolition of the R.E.P. and its replacement by a profit-related incentive? Is he giving attention to that?
§ Mr. ShoreI am always ready to listen to particular representations, but I have, as my colleagues have, already indicated that it is our intention that the R.E.P., which was introduced last year, shall stand for seven years.
§ Mr. BarnettWhilst not entirely disagreeing with the C.B.I. and its report about R.E.P., may I ask my right hon. Friend whether he has asked the Confederation how far its report represents the views of its members in development areas?
§ Mr. ShoreThat is a very interesting question. I shall certainly remember to put this to the C.B.I. next time I meet the Confederation. My hon. Friend's point is valid. I have recently made some visits to the regions and have found a wide difference of opinion in talking to industrialists about the value of R.E.P.
§ Mr. Gibson-WattHas the Secretary of State read the report produced by the Welsh C.B.I. and the comments there made about R.E.P.? Are they very different from those coming from other Economic Councils?
§ Mr. ShoreI regret that I have not seen the report by the Welsh C.B.I. I have seen a report by the Scottish C.B.I. It is interesting to see the wide variations of suggestions that are coming forward from different regions.