HC Deb 06 April 1976 vol 909 cc246-58

I start with some proposals which are intended to help in improving the efficiency of our manufacturing industry and its ability to meet the coming upturn in demand.

Both sides of industry have welcomed the approach to industrial strategy which we published last November and are co-operating fully in the survey of 32 key industrial sectors, to which the National Economic Development Council has agreed to give priority. Reports on these sectors will be presented by the economic development councils and working groups concerned in June. As I have already said, the Government are particularly concerned to identify potential bottlenecks which could constrain production as the economy recovers. Meanwhile, we have pleged ourselves to provide an appropriate fiscal and economic environment for manufacturing industry so that it can finance the necessary increase in investment and obtain the manpower it will need during the recovery.

It has been put to me many times that industry needs a stable framework in which to operate and that this is of greater importance than incentives which may be here today and gone tomorrow. Continuous alteration of the rates, structure or reliefs of corporation tax, however well-intentioned, are bound to disrupt planning.

My first objective, therefore, in this field is to strengthen the stability of the tax environment. There are three areas where I can today offer a new degree of certainty.

  1. Stock Relief 542 words
  2. c248
  3. Depreciation 127 words
  4. cc248-9
  5. Corporation Tax 267 words
  6. cc249-51
  7. Finance for investment 722 words
  8. cc251-2
  9. Selective support for investment 189 words
  10. c252
  11. Price Code 120 words
  12. cc252-4
  13. Manpower Policies 659 words
  14. cc254-5
  15. Taxation of motoring 352 words
  16. cc255-7
  17. VAT higher rate 734 words
  18. cc257-8
  19. Taxation of Petrol 332 words
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