§ Q1. Mr. Rentonasked the Prime Minister whether she is satisfied with the number of economists in Government service.
§ The Prime MinisterNo, Sir. In 1964 there were only 21 economists in Government service. The growth in numbers peaked in 1978 at 408 across the 20-odd Government Departments in which they serve. In recent years there has been a steady decline in numbers to 379 in October 1981. It is expected that by April 1984 the number will be about 350 to 360.
§ Mr. RentonWhile thanking my right hon. Friend for that answer, may I ask whether, as the number of Government economists has increased 18 times in 18 years, she would consider whether there is an analogy with the Spanish empire, whose downfall is attributed to the fact that one in six adult males was in the Catholic Church? Rather than employ more non-productive economists, will my right hon. Friend redouble her efforts to increase the number of job and wealth-creating industrialists in Britain?
§ The Prime MinisterWhile not following my hon. Friend on his historical excursions, may I say that I wholly agree that we should concentrate on productive investment in industry and commerce and thereby create real and genuine jobs for the future. May I point out, in defence of some of the economists, that the good economists take the same view as I do.
Mr. loan EvansAs the House prepares to hear the Budget speech, does the Prime Minister agree that it is not a question of the number of economists in Government service but rather that the economists are beginning to give her the wrong advice? Does the right hon. Lady agree now that, after nearly three years in office, the Government should abandon their monetarist policies and go hack to policies that have been pursued by previous Labour and Conservative Governments to try to restore full employment, to deal with inflation and to get growth in the economy again?
§ The Prime MinisterMonetarism means honest money. It means that the money is backed properly by the production of goods and services. If I might return to the point made by my hon. Friend the Member for Mid-Sussex (Mr. Renton), one reason why Spain fell was that she got into great trouble with inflation.
§ Mr. CormackNotwithstanding the remarks of my hon. Friend the Member for Mid-Sussex (Mr. Renton), does my right hon. Friend agree that the Pope is worth 379 economists?
§ The Prime MinisterThe Pope is a very distinguished and good Head of State and Head of Church. I hope that he will have a successful visit to our country.
§ Mr. FootWill the right hon. Lady be good enough to name any of those economists who agree with her, or does she think that she would convict herself of slander if she did so?
§ The Prime MinisterI could name many—perhaps rather more than the right hon. Gentleman thinks. Suppose we start with Alan Walters and go on with Professor Patrick Minford?