HC Deb 25 March 1971 vol 814 c869
Q1. Mr. Ashley

asked the Prime Minister how many representations have been made to him since 1st January regarding the level of investment.

The Prime Minister (Mr. Edward Heath)

I have discussed the economic situation, including the level of investment, with a wide variety of organisations and individuals, including the C.B.I., the T.U.C. and the Scottish T.U.C.

Mr. Ashley

Does the Prime Minister believe that the present fall in investment is due to lack of funds or lack of confidence in the Government? Will he assure us that he will take urgent action to ensure that the present low rate of investment and the alarming trend does not spiral downward into a recession?

The Prime Minister

We are certainly very much concerned with the level of investment, but when the hon. Member says that it has fallen, I would point out that the White Paper published earlier today on National Income and Balance of Payments shows that, after a fall in the first half of 1970, total fixed capital formation recovered in the second half of 1970 to a level slightly above that of a year earlier.