§ 21. Mr. John Garrettasked the Secretary of State for Trade if he will publish a statement on his policies for import substitution.
§ Mr. MeacherThe Government are concerned to ensure that every opportunity is taken to stimulate competitive home production. Our work on the industrial strategy and our agricultural and energy policies are structured with this consideration in mind.
§ Mr. GarrettDoes my hon. Friend accept that some of us are disturbed at the silence of the Department of Trade on this subject? Does he appreciate that many of us believe that import substitution is as important a part of trade policy as is export promotion, and that we look 25 forward to the day when the Department will establish a unit and a plan for import substitution?
§ Mr. MeacherI agree that import substitution is the other side of the coin of export promotion. My hon. Friend should be assured that we have a significant input in the Department into industrial strategy. The action ultimately to be taken in industry is discussed by the three sides. We hope that there will be a significant increase in the share of domestic and overseas markets that can be operated within the 40 sectors that are being examined.