§ 14. Mr. Douglasasked the Secretary of State for Scotland if he will request his economic advisory section to undertake a feasibility study of the possibility of setting up a state-financed Scottish industrial holding company.
§ Mr. Gordon CampbellThere is nothing I can add to what my hon. Friend the Minister for Industry said about the Government's attitude to the establishment of State-financed holding companies in the debate on a Motion on public ownership in the name of the right hon. Member for Birkenhead (Mr. Dell) on 10th December.—[Vol. 827, c. 1687–1777.]
§ Mr. DouglasWill the right hon. Gentleman accept that the Minister said exactly nothing in that debate? Is not the right hon. Gentleman falling down in his duty and responsibility here? We have a magnificent opportunity to exploit the potentialities of North Sea oil and gas. The formation of a State holding company would go a long way towards ensuring that Scotland gets the benefits of the full exploitation of those resources. Will the right hon. Gentleman do something about it?
§ Mr. CampbellI do not accept that my hon. Friend said nothing in that debate. I do not wish to repeat it all here at Question Time. Of course, there are great opportunities now in North Sea oil, as I have said over several months, but the possible advantages of a State-owned holding company have not so far made themselves apparent.