§ 8. Mr. Teddy Taylorasked the Secretary of State for Industry what estimate he has made of the cost of the nationalisation measures outlined in the Gracious Speech.
§ Mr. HefferThe cost will depend on the basis of compensation. Estimates will of course be given when a Bill is brought before the House.
§ Mr. TaylorIs it not the height of irresponsibility for the Government to go ahead with major nationalisation measures without, apparently, having an approximate idea of what the whole package will cost? Does the Minister accept that, in difficult financial times, this is utter irresponsibility, and will he explain to my constituents how on earth it will help production or employment in Scotland to nationalise firms such as Scott Lithgow and Yarrow, which are profitable and efficient and have good labour relations?
§ Mr. HefferI refute the charge that the Government are being irresponsible in putting forward their views. These views have been put forward at elections, and by a majority the electorate have accepted the views of the Labour Government.
We have an assumption of the estimates, and these will be put before this House at the appropriate moment.
§ Mr. SpeakerOrder. We are to debate this matter later today, and we must get on with Questions.