§ I turn now to the continuing effort to encourage innovation in industry. If we are to win still more worthwhile orders both at home and abroad British industry must continue to improve its design and production techniques.
§ There is no more important area to which this applies than microelectronics and information technology. The Government have already given a lead by designating 1982 as Information Technology Year. We have already authorised investment of well over £2 billion in the British Telecommunications network in the coming year—more in real terms than at any time since 1974–75. That investment will breed new services, new firms and new jobs. So, too, will the development of alternative and competing services for electronic communication, such as the new Mercury network for business.
§ Because new technology is important on a wider front, I propose to make a further allocation for this purpose. My right hon. Friend the Secretary of State for Industry will shortly be announcing a series of new and expanded schemes. These will include additional assistance towards space technology, and production engineering—including the introduction of a special scheme of assistance to small engineering firms. And the 100 per cent. first year allowances for leased television sets, which were due to be phased out this June, will be extended for a further year for sets incorporating a teletext facility. This will encourage the wider use of a leading product of British information technology.
§ These measures will be worth £130 million over three years.