§ 3. Mr. CousinsTo ask the Secretary of State for Trade and Industry when he proposes to meet the board of the Northern Development Company to discuss the company's business plan for 1991–92.
§ The Secretary of State for Trade and Industry and President of the Board of Trade (Mr. Peter Lilley)I have no present plans to meet the board of the Northern Development Company. Its plans and grant application for its inward investment activities for 1991–92 are currently being given careful consideration, along with those of the other four regional development organisations. My hon. Friend the Parliamentary Under-Secretary of State for Industry and Consumer Affairs will be announcing the level of grant for all the regional development organisations in early March.
§ Mr. CousinsThe Secretary of State will know that the Northern Development Company was created by people in the north to promote inward investment. Given the spirit of his speech yesterday, does he now regard it as a fully fledged regional development agency and, if so, will he give it the resources to promote inward investment from the south into the north so that, as the puff of credit which floated to the south sinks, people can move to the north where opportunity is greater and life is better?
§ Mr. LilleyThe Northern Development Company is doing an excellent job. It has a good record of attracting companies into the north-east—about 31,000 jobs have been created by inward investment in the north-east and the northern region—and it will receive the largest grant of any of the regional development organisations.
§ Mr. TrotterAs the Northern Development Company has all-party support, is a bright example of success in the north-east in terms of its economic promotion and has contributed significantly to the resilience of our region, will my right hon. Friend therefore maximise support for its future and for that success?
§ Mr. LilleyI shall certainly do so. As I have said, the company will receive the largest grant of all the regional development organisations. It has an excellent record. In addition, English Estates is planning 600,000 sq ft of extra factory space in the region.
§ Mr. Campbell-SavoursDoes the Secretary of State recognise that there has never been a more important time than right now to reverse the Government's damaging industrial strategy in the northern region? Why do the Government not reopen the door that they so firmly locked in 1979 when Labour left office and restore to our region the levels of industrial assistance that were available at that time, which brought tens of thousands of jobs to the north of England?
§ Mr. LilleyThe hon. Gentleman should ask his own Front Bench. As I understand it, his right hon. and hon. Friends have no intention of restoring regional development grants. If they have, they had better tell us where they intend to get the money from.