HC Deb 05 August 1971 vol 822 c471W
Mr. Roy Hughes

asked the Secretary of State for Wales if he has now examined in detail the report of the Confederation of British Industry which pointed to the lack of investment in Welsh industry and showed that 27 per cent. of firms surveyed have cancelled plans for new investment and that more than half plan no expansion for next year; and what action he now proposes to take.

Mr. Peter Thomas

The survey related to a period much earlier this year and could not take into account the significant measures to stimulate investment introduced by the Government in recent weeks. Even so the survey revealed that 96 out of the 194 firms which participated said that they had taken decisions to expand or to undertake new projects in Wales in the subsequent 12 months. The survey's conclusions about cancellation of plans for new investment are less favourable than our own experience indicates. I hope to discuss the industrial situation in Wales with the Wales Regional Council of the C.B.I. later this year.

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