§ 47. Sir C. Osborneasked the President of the Board of Trade if he will investigate why engineering orders for the first quarter of 1962 were 13 per cent. less than in 1961; in view of the importance of engineering products to the United Kingdom export trade, what estimate he has made of the extent to which high prices are responsible; what effect he estimates the present demand for higher wages and shorter hours will have on employment in the industry; and if he will make a statement.
§ Mr. ErrollThe reasons why new engineering orders have fallen since 1961 are not in serious doubt and no special investigation is required. There has been little change in the price of our engineering goods since the first quarter of last year and I am satisfied that in general they are fully competitive. It is not possible to estimate the effect that higher wages and shorter hours would have on employment in the industry, but I am glad to have the opportunity to emphasise the crucial importance to the industry as well as in the national interest of keeping our exports competitive.