§ 22. Mr. Kenneth Bakerasked the President of the Board of Trade by how much he estimates that imports will increase when the rate of import deposits is reduced from 50 per cent. to 40 percent.
§ Mrs. Gwyneth DunwoodyIt is not possible to make a reliable estimate.
§ Mr. BakerIf it is not possible to make a reliable estimate, why choose the figure of 40 per cent.? Why not 30 per cent. or 20 per cent.? Is it not a fact that the Government, by extending the import deposits scheme, are acting in ignorance of the effect of the scheme and fear of what might happen if it comes off? Is the hon. Lady aware that ignorance and fear seem to be the two motives?
§ Mrs. DunwoodyUnlike previous Governments this Government never acts from ignorance or fear. The hon. Gentleman who waxes, so eloquent, might like to know that between 1964 and 1968 imports rose on average 13 per cent. whereas in the first three quarters of last year they were only 5½ per cent. higher.
§ Mr. HigginsHave the Government even attempted to make such an estimate?
§ Mrs. DunwoodyWhat we need is accurate information, and it seems to us to be better to use the indicators I have already given than simply say at the present moment that this is the effect of the import deposits scheme.