HC Deb 01 July 1974 vol 876 cc3-4
2. Mr. Peter Rees

asked the Secretary of State for Industry when he expects to complete his study of proposals to designate 100 top companies which should be subject to planning agreements.

46. Mr. Moonman

asked the Secretary of State for Industry when he expects to complete his proposals relating to the planning agreements.

The Minister of State, Department of Industry (Mr. Eric Heffer)

The Government will be announcing their proposals in due course.

Mr. Rees

In view of the statement by the Chancellor of the Duchy of Lancaster that the Government do not want to engineer a confrontation with the private sector of British industry, will the Minister confirm that should his consultations with industry and the top 100 firms show implacable hostility to his proposals he will, perhaps, abandon his ideas of extending public control over the private sector.

Mr. Heffer

The proposals will not be my proposals or my right hon. Friend's. They will be the Government's proposals and they will be based upon the manifesto upon which the Labour Party fought the last election. Of course, the 100 top companies were categorised by the Conservative Government in their counter-inflation policy.

Mr. Roy Hughes

Will the Minister assure the House that he will continue to enlighten the British people about the true situation, since, according to reliable economic forecasts, all they have to look forward to is a level of unemployment exceeding 800,000 in the near future, very low levels of investment for British industry, and a huge trade deficit? That is what the Tories are trying to defend.

Mr. Heffer

My hon. Friend is correct. The Government intend to enlighten the British people about the present economic situation, and we also intend to deal with the situation by using new methods and new ideas to solve our problems in a positive and rational way.

Sir J. Eden

Are these to be Government proposals, or are they proposals of the Labour Party? What consultations has the hon. Gentleman had with the chairmen and shareholders of the companies?

Mr. Heffer

I assume that the right hon. Gentleman is aware that Members on the Government side of the House happen to be members of the Labour Party. They also fought the election on the basis of a manifesto drawn up by the Labour Party. We have made it absolutely clear that full consultations will take place once the proposals are announced.

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