§ 18. Mr. Bishopasked the Minister of Aviation Supply what was the value of British imports of United States aircraft and aerospace products in the past year, compared with British exports to the United States of America in the same 510 period; and what further action he proposes to increase British exports.
§ Mr. David PriceImports of aircraft, aero-engines and parts from the United States of America amounted to £86 million in 1970; the corresponding figure for exports was £49 million. We shall continue to give every assistance to British exporters that we can.
§ Mr. BishopDo not those figures show the confidence of the industry in the policies of the previous Government and, in particular, my right hon. Friend the Member for Bristol, South-East (Mr. Benn)? Is not the conversion ratio of exports to imports higher for the British aircraft industry than for shipbuilding, vehicles and many other industries, and is there not an incentive here for continued pump-priming?
§ Mr. PriceThat point is a matter of economic fact. On his first point, there is no room for vast satisfaction when the imports were double the exports.