HC Deb 20 February 1969 vol 778 c746
8. Mr. Ridley

asked the Secretary of State for Economic Affairs upon what annual rate of growth of gross national product are the nationalised industries to base their investment plans for the future.

The Under-Secretary of State for Economic Affairs (Mr. Alan Williams)

The nationalised industries' current investment plans are consistent with an assumed average growth of gross domestic product of 3 to 3¼ per cent. a year for the next five years. Future plans will have regard to the Government's latest views on prospects for economic growth.

Mr. Ridley

Why has it taken this Question to smoke out from the Government what is the rate of economic growth enshrined in their miserable document which they have not even got the guts to publish?

Mr. Williams

The hon. Gentleman would make as poor a detective as he does an economist. I advise him to study the way in which the programmes of nationalised industries are rolled forward year by year. These figures were given to them provisionally a year ago, and their future programmes, in rolling forward, will accommodate the new figures.