§ 14. Mr. Kenneth Lewisasked the Chancellor of the Exchequer what consultations he proposes to have with the Confederation of British Industry following his Budget Statement.
§ Sir Geoffrey HoweI have no plans at present to meet representatives of the confederation before the next meeting of the National Economic Development Council, which is to be held on 7 April.
§ Mr. LewisI have no doubt that if my right hon. and learned Friend meets representatives of the CBI soon, they will give him a lunch because of what he has done about the national insurance surcharge. It has been brought down effectively for the moment. Will my right hon. and learned Friend keep an open mind for the autumn, because my right hon. and learned Friend the Chief Secretary to the Treasury said that the reduction in that tax would increase employment? If we need to increase employment more, that would be the best tax to reduce in the coming months.
§ Sir Geoffrey HoweMy mind is always open to suggestions from my hon. Friend, but I do not wish to lead him to expect any change in the measures that I have announced about the national insurance surcharge. It takes some time to bring them into effect. I am bringing them into effect as early as possible and also taking steps to increase their effectiveness so that industry receives the benefit of the whole 1 per cent. throughout the year.