§ 13. Mr. William RossTo ask the Secretary of State for Northern Ireland what further incentives he intends to provide to encourage inward investment in manufacturing industry in Northern Ireland. [19620]
§ Mr. AncramA competitive package of incentives is already available, which has resulted in a number of major inward projects in recent years. There are no plans to introduce changes at present, but the competitiveness of the package is kept continuously under review.
§ Mr. RossDoes the Minister agree that one of the great disincentives to investment is the high cost of electricity in Northern Ireland, which is due in part to the high rate of VAT on heavy fuel oil, which affects Northern Ireland unduly? Will he take up that matter with the Chancellor of the Exchequer?
§ Mr. AncramI shall certainly pass on that comment to my right hon. and learned Friend the Chancellor. As I have said before, when we consider inward investment to Northern Ireland, it is important that we not only look at some of the difficulties, but that we continue to point out that Northern Ireland is now an excellent place in which to invest. In that way, we can attract overseas investment, which will bring jobs to the constituencies of hon. Members representing Northern Ireland, including that of the hon. Gentleman.