§ 9. Mr. Adam Butlerasked the Secretary of State for Northern Ireland what have been the sums paid in investment or equivalent grants, excluding amounts in compensation, to companies for new development in Northern Ireland in the last available 12-month period and the two previous periods.
§ Mr. David HowellGrants totalling £32.3 million were paid under the main schemes in the year ending 31st March 1973. The figures for the years ending 31st March 1971 and 31st March 1972 were £37 million and £32.4 million respectively.
§ Mr. ButlerThose are interesting figures. Do they not seem to suggest a continuing faith by industrialists in the eventual success of my right hon. Friend's policy? Can my hon. Friend say specifically how much of this investment is on behalf of foreign investors and what has been the net reduction in unemployment as a result of this investment?
§ Mr. HowellTo put it in terms of jobs created rather than net reduction in unemployment, up to the end of March 1973 7,012 new jobs in manufacturing were created, which was more than in 696 the previous two years. In the first six months of this year 4,670 new jobs were created. There has been a marked reduction in unemployment over the past two years and I think that the current level is the lowest since 1966. This is encouraging. As my hon. Friend says, these figures indicate a continuing determination of outside investors and those already there to invest in Northern Ireland and to demonstrate the reality of the words that "Ulster is still very much in business".