§ 15. Mr. Biffen
asked the Secretary of State for Economic Affairs what proposals he has for an economic development committee for the City of London.
§ Mr. Frederick Lee
Following discussion in the National Economic Development Council, the Director-General of N.E.D.O. is examining with the interested parties the possible rôle of, and support for, an E.D.C. for Banking, Insurance and Finance. The Council will consider the matter further in the light of the outcome of this examination.
§ Mr. Biffen
Is the right hon. Gentleman aware that on this subject, as on so many others, Lord Cromer has offered excellent advice? He has suggested that such a committee is quite unnecessary. Would the right hon. Gentleman take this opportunity of nipping in the bud this possible extension of unnecessary bureaucracy and public expense?