§ 51 and 52. Mr. Gower
asked the Chancellor of the Exchequer (1) what is his estimate of the consequences upon the economy and industry of Wales of the imports surcharge, the recent tax increases, and the increased Bank Rate; and if he will make a statement;
(2) what extra assistance he will give to industries in Wales, particularly in development areas and in areas of above average unemployment, to lessen any adverse effects of the imports surcharge and the increased Bank Rate.
§ Mr. Callaghan
The purpose of the Government's measures is to promote an improved balance between our overseas payments and receipts, without which we cannot have a healthy economy in any part of the United Kingdom. As part of the Government's aim to foster development in Wales, my right hon. Friend the Secretary of State for Wales has established an Economic Planning Board and will shortly appoint an Economic Advisory Council which will pay special attention to Welsh problems.