§ 8. Mr. Knoxasked the Secretary of State for Industry what was the level of industrial investment during the most recent 12-month period for which figures are available; and what was the com parable figure for the previous 12-month period.
Mr. Alan WilliamsTotal investment by manufacturing industry in the 12 months ending September 1978 is estimated at £3,780 million at 1975 prices, 8 per cent. above the level of £3,496 million in the previous 12 months.
§ Mr. KnoxWhat are the Government doing to increase the demand for the products of industry without which industrial investment will never rise to the level we need?
Mr. WilliamsTo begin with, the fact that investment is increasing is an indication that industry is satisfied that there are adequate measures to ensure that there is demand for its products. Within the industrial strategy, much of the attention in the relevant sectors is being given to closer relationships between manufacturers, wholesalers and retailers and between manufacturers which compete in the same products so that each compliments each other's range instead of drawing in imports of, say, domestic electrical appliances from Italy to supplement ranges.