HC Deb 17 March 1993 vol 221 cc281-2
17. Mr. Oppenheim

To ask the President of the Board of Trade how many meetings he has had with business men before 8.30 am in the last month; and if he will make a statement.

Mr. Heseltine

I have had no such meetings.

Mr. Oppenheim

In considering what he might do before breakfast, or indeed before any other meal of the day, will my right hon. Friend take into account the effect of state-directed industrial strategies on the European steel industry? For many years, politicians considered that the right macho strategy for that industry was to pour billions of pounds into the creation of ever-increasing capacity, and we are now asked to provide even more billions to close down much of that capacity. Does not this illustrate that while decisions left to the market may produce outcomes that are not perfect, they are a great deal less imperfect than those determined by politicians?

Mr. Heseltine

The whole House knows what I am doing before breakfast. I am intervening, as I am doing before lunch, tea and dinner. What I am not doing is subsidising British industry, before or after any meal.

Mr. Robin Cook

Should the President of the Board of Trade manage to intervene with business men before breakfast, will he make available to them the report of his competitiveness unit? Can he confirm the Sunday Times story that that report concludes that the British industrial base is fundamentally weak and that the trade deficit will last for decades? How can the Government seriously claim that they have put in position the conditions for recovery when that report tells them that what they have put in place is an industrial base low in investment and low in skills? Is not that an appalling verdict on 14 years in office? Is not that the real reason for the President's refusal to publish the report?

Mr. Heseltine

The uncomfortable fact for the hon. Gentleman is that the report clearly reveals the devastating inheritance of 1979, when, economically, this country was perceived as the weak man of Europe because of over-taxation, over-inflation and over-nationalisation. We are now recovering from that situation, and the hon. Gentleman just cannot stand the changes.