HC Deb 25 June 1974 vol 875 cc441-2W
Mr. Eldon Griffiths

asked the Secretary of State for Industry what steps he is taking designed to arrest the decline in industrial investment.

Mr. Heffer

The volume of capital expenditure by manufacturing industry rose by 7 per cent. in 1973 over 1972, and the latest survey by my Department of investment intentions suggests a further increase of 5 per cent. this year. Nevertheless one of the Government's first priorities is to achieve a higher rate of investment. This was part of the Chancellor's Budget strategy with its emphasis on steady sustainable growth led by exports. I would also refer to the statement I made about investment incentives in reply to a Question by my hon. Friend the Member for Rhondda (Mr. Jones) on 29th April.—[Vol. 872, c. 347–8.] The Government's proposals for a National Enterprise Board and planning agreements with the largest companies are, of course, specifically aimed, among other things, at raising the level of investment.

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