HC Deb 14 April 1970 vol 799 cc207-8W
Mr. Ridley

asked the Chancellor of the Exchequer what is his estimate of private industry's current annual new investment in research, development, stocks, and working capital, respectively.

Mr. William Rodgers

The latest information on research and development relates to 1967–68 when the expenditure by private industry out of its own resources

to present economic conditions I cannot provide an estimate. Changes in the system and rates of taxation have steered the economy in a particular direction, and it would not be meaningful to attempt an estimate of total revenue by applying former tax rates to the very different economic situation of today.

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