§ Q7. Mr. Sheldonsked the Prime Minister if the public speech of the Secretary of State for Trade and Industry on 11th March in Black pool on industrial matters represents Government policy.
§ The Prime MinisterAs I have already said in reply to a Question from the hon. Member for Heywood and Royton (Mr. Joel Barnett) on 28th March, "Yes, Sir".—[Vol. 834, c. 228–9.]
§ Mr. SheldonAlthough the main reason for turning down the idea of in- 1024 vestment grants was that they were not related to profitability, the Prime Minister, despite what he said, has introduced investment grants which are not related to profitability. If this is not so—there is some confusion in industry as well as elsewhere—would he make it clear to industry that, even if they are not profitable, they will still receive the new investment grants?
§ The Prime MinisterThe confusion seems to be in the hon. Gentleman's mind as much as anywhere, as I believe he himself realises. But I told him that I would send him the statement about the connection with profitability of the total inducements now available in the regions. This is being prepared and I will send it to him so that he can see exactly what is the position.