§ Mr. McBrideasked the Secretary of State for Trade and Industry what is his estimate of the wage costs in Wales met by the regional employment premium; and what proposals he has for ensuring that the competitive advantage enjoyed by Welsh manufacturers now receiving regional employment premium will be maintained after 1974.
§ Mr. Armstrongasked the Secretary of State for Trade and Industry what is his estimate of the proportion of wage costs met by the regional employment premium; and what proposals he has for ensuring that the competitive advantage enjoyed by manufacturers in the Northern Region now receiving regional employment premium will be maintained after 1974.
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§ Mr. Anthony GrantI regret that the figures are not available in the form requested but it is estimated that in the development areas as a whole payments in respect of R.E.P. are equal to slightly less than 6 per cent. of labour costs. The incentives for investment announced by my right hon. Friend the Chancellor of the Exchequer on 27th October were expressly designed to encourage the growth of efficient and competitive enterprises; this will assist the development areas. The regional margin derived from these measures will be substantial.