§ 10. Mr. Biffenasked the Minister of Technology how many requests for finance are currently being considered by the Industrial Reorganisation Corporation; and how many merger or rationalisation studies are being conducted by that body.
The Joint Parliamentary Secretary to the Ministry of Technology (Mr. Alan Williams)The I.R.C. is an independent organisation. We are therefore not in a position to provide the information the hon. Member seeks. The corporation's annual reports indicate some of the sectors of industry in which it has been, and is, active.
§ Mr. BiffenIs the Parliamentary Secretary aware that a great many of the mergers now proceeding in British industry are clearly taking place as a result of discussions with the I.R.C.? These often affect employment, and a considerable number of jobs on redundancy are 7 involved. Does this not underline the wholly unsatisfactory nature of this body, which is so unresponsive to this House and not answerable to this House?
Mr. WilliamsThe hon. Member will appreciate that if many of these mergers were not taking place it would be far more unsatisfactory in terms of unemployment and the efficiency of the economy, but it is a delicate balance how far the Minister should interfere directly in this sort of operation. On balance we feel it better that the I.R.C. should be given a considerable degree of independence.