§ 17. Mr. Hall-Davisasked the President of the Board of Trade if he will undertake an examination of the price elasticity of demand for the services provided by the hotel, insurance and banking industries and other service industries which earn substantial quantities of foreign exchange.
§ Mr. Hall-DavisWill the right hon. Gentleman not recognise that there is a strong case for such an inquiry, which would throw light on the desirability of removing S.E.T. from these industries in order to increase their earnings of foreign currency?
§ Mr. MasonI do not agree with the hon. Gentleman in his conclusion. If such an examination took place, I am sure that it would come down on the side of Professor Reddaway and say how efficient these industries have become since S.E.T. was imposed.
§ Mr. RidleyDoes not the right hon. Gentleman recognise that discrimination is not only in terms of S.E.T. but also in terms of lack of availability of investment grant? Why does he wish to discriminate against these service industries in two respects despite the fact that they have done so well in helping the Government out?
§ Mr. MasonI have consistently praised them for doing so well, but their success surely shows that S.E.T. is not as harmful as the hon. Gentleman suggests.