§ Q3. Mr. Norman Atkinsonasked the Prime Minister if he will make available 1640 in the Library a copy of the submissions he is to put to the Bonn Summit concerning the world economy.
§ The Prime MinisterI have no plans at present to put any written document to the Bonn Summit. I am, however, already in touch with the other participants about ways to boost the world economy and increase international confidence. I will, of course, report to the House at the appropriate time.
§ Mr. AtkinsonDoes my right hon. Friend agree that there is now an international tendency to drift into diplomatic secrecy in economic affairs in the same way that foreign affairs and defence matters are shrouded in secrecy throughout the world? If it is the fact that we can no longer stimulate the rate of economic growth in Britain because of increasing our external trade deficit, would it not be wise to widen the discussion that is to take place so that there may be a representation of all views about the necessity for the international regulation of trade and the introduction of import controls?
§ The Prime MinisterI do not agree with the first part of my hon. Friend's question. There is less secrecy in the discussion of public affairs than I have known in the 33 years that I have been in the House. There is more open government and open discussion than I ever recall on economic matters, defence matters and international affairs.
As for the limitation imposed on our national growth, the major limitation that is imposed is our failure, over many years, to secure a level of productivity to enable us to compete with a number of imported goods in a number of sectors. That is the major weakness that I have constantly emphasised. I believe that that view is shared by some on the Opposition Benches.
How is that to be remedied? There are discussions and decisions about limiting imports in these circumstances. If every country in the world follows that course—a great many countries are under increasing pressure to do so—the result will be less world trade rather than more world trade, and perhaps more unemployment. It could happen, but I do not think that we should encourage it. I think that we should try to secure a greater increase in the level of world trade.
§ Mr. RostWhat is it about the Government's appalling record that entitles the Prime Minister to go lecturing to the Heads of other more successful States urging them to abandon their successful economic management and replace it with the policies of failed Socialism? Would not he be better employed taking some lessons from them instead of whining at them?
§ The Prime MinisterI am willing to accept lessons from anybody including the hon. Gentleman, if he ever has anything sensible to say. What we are trying to do, in the face of 16 million unemployed in the Western world, is to pool our ideas to try to secure some progress in a number of areas that will enable the recession in the Western world to be overcome and growth to be resumed. I hope to have the hon. Gentleman's support in doing that.
§ Mr. WhiteheadDisregarding the ridiculous comment that we have just heard from the hon. Member for Derbyshire, South-East (Mr. Rost), will my right hon. Friend use his undoubtedly close relations with Chancellor Schmidt to impress upon him once again, that, because of Germany's position in the world at the moment and her vital zero rate of inflation at this time, there is a special responsibility on the Germans to bring about an expansion of world trade?
§ The Prime MinisterChancellor Schmidt would accept that responsibility. He is much in favour of a growth of world trade. The question that he is asking is how best to secure it. That is the problem to which we shall be devoting our attention between now and July.