§ Mr. Skeetasked the Secretary of State for Trade and Industry if he will identfy the draft regulation issued by the Commission covering insurance designed to harmonise the rules within the nine members of the Community; and what is the policy of the Government thereon, with particular relation to its application to all insurance companies.
§ Sir G. HoweThere are two directives in the course of preparation which, with 7W some minor exceptions, would apply to all insurance companies engaged in direct insurance other than life. The first is designed to harmonise the rules under which an insurer may establish a branch in another Community country, and the second to eliminate existing national discrimination. The Government support this move towards liberalisation, and discussions are continuing in Brussels on amendments to meet the particular needs of the new members.
INVESTMENT BY MANUFACTURING INDUSTRY £ million Current prices, not seasonally adjusted 1970 1971 1st quarter 1972 2nd quarter 3rd quarter Total … 2,133 2,169 515 487 565 Food, drink and tobacco … 270 302 78 85 95 Coal and petroleum product … 86 134 34 32 31 Chemicals … 381 362 80 77 68 Metal manufacturing … 267 337 102 68 65 Engineering, shipbuilding and metal goods … 425 402 89 90 101 Vehicles … 223 165 28 28 32 Textiles, leather and clothing … 156 140 27 30 31 Paper, printing and publishing … 130 106 23 26 27 Other manufacturing … 195 222 55 53 56
£ million 1963 prices, seasonally adjusted 1970 1971 1st quarter 1972 2nd quarter 3rd quarter Total … 1,629 1,511 367 330 326 Food, drink and tobacco … 208 213 55 55 60 Coal and petroleum products … 63 89 26 21 19 Chemicals … 280 243 56 51 47 Metal manufacturing … 205 234 70 45 37 Engineering, shipbuilding and metal goods … 330 287 64 64 69 Vehicles … 174 119 23 19 20 Textiles, leather and clothing … 119 98 18 21 20 Paper, printing and publishing … 102 75 16 18 19 Other manufacturing … 148 154 40 37 35 Additional quarterly data are shown in "Trade and Industry" of 11th January, deposited in the House of Commons Library.
Analyses of total investment, for the economy as a whole, by industry groups and by public and private sectors, are shown in Table 7 of the Monthly Digest of Statistics which is also in the Library.