HC Deb 07 March 1972 vol 832 c1228
22. Mr. Sheldon

asked the Chancellor of the Exchequer what action he proposes to take to increase the level of manufacturing investment.

Mr. Barber

I cannot anticipate my Budget Statement.

Mr. Sheldon

Has the Chancellor of the Exchequer seen the reports in the Financial Times that there will be further cuts in machine tool investment and that there will be yet further redundancies in the machine tool industry? What action will the Chancellor take to avert this, bearing in mind that one of the most serious criticisms that may be made of the Government is that they allowed investment in machine tools to dwindle and decline until the machine tool industry faced severe difficulty?

Mr. Barber

I note what the hon. Member says but, as I stated in my original answer, I cannot anticipate my Budget Statement, which will be a fortnight today.