HC Deb 27 June 1988 vol 136 cc2-3
3. Mr. Nicholas Bennett

To ask the Secretary of State for Wales what is his latest estimate of net inward investment in Wales in 1987; and if he will make a statement on present trends.

The Secretary of State for Wales (Mr. Peter Walker)

The latest estimate of inward investment into Wales in 1987 is 113 projects, involving investment of £244 million.

Present trends suggest that there is every prospect of this high level of activity being maintained. In the first five months of this year projects involving investment of £248 million have taken place.

Mr. Bennett

I thank my right hon. Friend for that excellent reply. Does he agree that the remarks of the right hon. Member for Swansea, West (Mr. Williams) last Thursday about a coolie economy and the attack by the Trades Union Congress on single-union agreements in Wales do nothing to help this excellent trend and may damage the Welsh economy?

Mr. Walker

Quite a number of single union agreements in Wales have been reached by a whole range of unions, including the Transport and General Workers Union, which has recently negotiated a very successful one. As for the remarks concerning a coolie economy, I do not think that any of the many fine Japanese and German firms that we are delighted have come into Wales will take those remarks seriously.

Mr. Ieuan Wyn Jones

The Secretary of State will recall that recently published figures show that inward investment has had relatively little impact in Powys, Gwynedd and Dyfed. When does he expect that to change?

Mr. Walker

It is more difficult to attract inward investment from overseas to the geographically more remote parts of Wales and other parts of the United Kingdom. We endeavour to compensate for that by the activities of the Welsh Development Agency in encouraging new business. Furthermore, we point to the success stories in mid-Wales and elsewhere when some of the bigger British firms have gone into those localities.

Mr. Raffan

Is my right hon. Friend able to say what the full-time male Welsh coolie is now being paid, compared with 1979 when the shadow Secretary of State last held Government office?

Mr. Walker

In 1979 the full-time male employee in Wales received £97.60 a week. Now he is likely to receive about £220 a week.

Mr. Gareth Wardell

The Secretary of State said that one element in his Valleys initiative will be the help that he will give to Welsh component suppliers. Can he say specifically what kind of help that will be?

Mr. Walker

We have already had a series of meetings with component suppliers to the motor industry. In the Valleys initiative I said that the WDA was carrying out a major market research programme to see what we can identify about the potential for component part manufacturers. Having identified that, we can take appropriate decisions.