§ 8. Mr. Allan Stewartasked the Secretary of state for Scotland when he plans next to meet the Scottish Confederation of British Industry and the Scottish Trades Union Congress.
§ The Under-Secretary of State for Scotland (Mr. Alexander Fletcher)My right hon. Friend and I have met representatives of both bodies several times since taking office and have made it clear that we are prepared to meet both bodies at any time they wish.
§ Mr. StewartWhen my hon. Friend next meets both sides of Scottish industry will he point out to them that there have been no adverse effects whatever on industry and employment in Scotland following the Chancellor of the Exchequer's courageous and correct decision to abolish exchange controls, despite the 612 hysterical, economically illiterate scare-mongering from the Opposition?
§ Mr. FletcherYes, Sir. I am most grateful to my hon. Friend. The decision to abolish exchange controls is likely to benefit the United Kingdom and Scottish economies, as my right hon. and learned Friend the Chancellor of the Exchequer told the House last month.
§ Mr. FoulkesWill the Minister, when he meets either of those bodies, explain why unemployment has risen by 500 in Scotland in the last month and why the underlying trend is clearly upwards? Will he also say where this trend will end? In other words, what is his high target for the unemployment that will follow from the public expenditure cuts that Scotland is experiencing?
§ Mr. FletcherThat is one point that I do not have to explain to either body. The STUC and the CBI in Scotland are fully aware that unemployment doubled under the previous Labour Government.
§ Mr. Bill WalkerWhen he next meets the STUC will my right hon. Friend remind it that the problem in Scotland has been not the lack of investment capital but the lack of areas for that investment capital to produce profit and jobs for the future?
§ Mr. FletcherMy hon. Friend is right. There is no shortage of investment funds in Scotland, but there is a shortage of investment opportunities. Until the economy operates on a more sound basis we cannot expect opportunities to present themselves quickly.
§ Mr. Harry EwingIs the Minister aware that his hon. Friend the Member for Renfrewshire, East (Mr. Stewart) has displayed his knowledge of the Scottish economy from A to B? When the Minister next meets the Confederation of British Industry in Scotland, will he discuss with it the statement yesterday by his hon. Friend's successor at the CBI that unemployment in Scotland next year will rise to 250,000 as a result of the Government's policies?
§ Mr. FletcherI have not seen the statement to which the hon. Gentleman refers, but I would not disagree with the fact that next year unemployment is likely to rise throughout the United Kingdom, including Scotland. However. I am not in 613 a position to say what the figure might be.