HC Deb 27 July 2000 vol 354 c834W
Mr. Barry Jones

To ask the Secretary of State for Wales what discussions he has had with the First Secretary concerning the prospects for manufacturing in Wales in relation to(a) the strength of sterling and (b) the Comprehensive Spending Review; and if he will make a statement. [132380]

Mr. Paul Murphy

The First Secretary and I meet on a regular basis and discuss a number of issues including manufacturing in Wales. Overall, manufacturing output in Wales for the four quarters to the first quarter of 2000 was 2.9 per cent. higher than this corresponding period a year earlier.

The Government understand the concerns about the fall in value of the euro, but are determined to take a long-term view. Manufacturers who have suffered from the old boom and bust would not want a return to short-term quick fixes which put at risk long-term stability. The Government's careful handling of the economy across the UK will allow business to invest and plan ahead with confidence

The Spending Review supports manufacturing through a number of routes including the £530 million launch investment for the A3XX, which will be of particular benefit to manufacturing jobs in Wales. There will also be an important role for the Small Business Service and increased funding for commercial exploitation of science in supporting investment and innovation among manufacturing firms, especially SMEs.