§ 5. Mr. LidingtonTo ask the President of the Board of Trade what steps he is taking to encourage the competitiveness of industries in Buckinghamshire.
§ The President of the Board of Trade and Secretary of State for Trade and Industry (Mr. Michael Heseltine)Under the Government, we now have the lowest interest rates for nearly 20 years, manufacturing productivity at an all-time high, and we have the lowest underlying inflation for the past 26 years. Investment in plant and machinery is up nearly 50 per cent. since 1979.
I am pleased to announce that a new business link in Aylesbury is expected to open in June. We shall announce our further policies on competitiveness in a White Paper to be published soon.
§ Mr. LidingtonDoes my right hon. Friend agree that in a competitive world economy it is important not only for large British companies but for small and medium-sized companies, which form the majority of employers in places such as Aylesbury, to get used to exporting as part of their regular business planning? Will he ensure that the welcome new business link office in Aylesbury, and other measures adopted by the Department, will provide advice to enable small and medium-sized employers to go out and break into overseas markets?
§ Mr. HeseltineI am extremely grateful to my hon. Friend. Like many people, I believe that job creation in the future will come from the small and medium-sized business sector. We in the Department of Trade and Industry are determined to reinforce the efforts of that vital part of the British economy by providing a first-class advisory service through the business link movement. We are also determined to push on with the export promoter initiative, which has now attracted about 75 secondees from the private sector to my Department to help and advise the small companies that we wish to see pioneer export markets.