HL Deb 16 April 1970 vol 309 cc555-6
THE EARL OF LAUDERDALE

My Lords, I beg leave to ask the Question which stands in my name on the Order Paper.

[The Question was as follows:

To ask Her Majesty's Government what port development location is now the subject of cost/benefit analysis.]

THE PARLIAMENTARY UNDER-SECRETARY OF STATE FOR DEFENCE, R.A.F. (LORD WINTER-BOTTOM)

My Lords, development schemes carried out by port authorities are normally expected to meet the mini-mum test rate of discount laid down for public sector investment, which for low-risk projects is currently 10 per cent, in real terms. Government policy in this field does, however, enable other criteria to be taken into account where necessary, including social costs and benefits or the need to meet statutory obligations.

THE EARL OF LAUDERDALE

My Lords, while thanking the noble Lord for that informative reply, may I ask him whether these studies henceforth will be related at all to the Peston studies to be undertaken at the University of London regarding MIDAS?

LORD WINTER.BOTTOM

My Lords, as the noble Earl knows, the National Ports Council have just published a valuable report by Professor Peston on Cost/ Benefit Assessment of Maritime Indus-trial Development Areas. Apart from the Government studies announced by the Secretary of State for Local Government and Regional Planning on April 13 of this year, careful consideration will be given to the relevance of Professor Peston's findings to other port investment decisions.