HC Deb 30 July 1981 vol 9 cc1152-3
7. Mr. Dykes

asked the Chancellor of the Exchequer what criteria he uses to measure any recovery in manufacturing and total output in the economy.

Mr. Brittan

A wide variety and range of indicators and assessments, both official and independent, are regularly published. These include the index of manufacturing production, CBI surveys and the Central Statistical Office's cyclical indicators. Collectively, these indicate that the worst of the recession is behind us.

Mr. Dykes

We all hope for an upturn in the economy as soon as possible. However, if that does not happen in the foreseeable future, does my right hon. and learned Friend know of any measures that could be taken to revive the economy in a non-inflationary way?

Mr. Brittan

It is not possible to answer a hypothetical question of that nature. If the outcome of events is less favourable than we anticipate—the reasons for and the circumstances in which that could happen are infinitely various—the appropriate reaction would depend on why the circumstances had changed.

Mr. Winnick

Is the Chief Secretary aware that in the real world of continuous redundancies, closures and bankruptcies resulting from Government policies, once prosperous industrial areas, such as the West Midlands, are becoming industrial wastelands? Why does the Chief Secretary not face the real world instead of living in a world which simply does not exist?

Mr. Brittan

If the hon. Gentleman is as interested in the real world as he purports to be, he should have a word with the West Midlands county council about the effect on industry of the rate increases that it has just introduced.