§ Mr. Bishopasked the Secretary of State for Trade and Industry (1) what action he now proposes to deal with the growing threat to the British ballbearing industry following the announcement that Messrs. Ransome, Hoffman and Pollard are to sack 1,500 workers from their works in Newark and two other areas;
(2) if he is aware that Messrs. Ransome, Hoffman and Pollard, ballbearing manufacturers of Newark, are to sack a further 550 employees, thus bringing the percentage of unemployment in the area above the average percentage of unemployed in intermediate areas which are subject to special grants and aid; and what action he proposes to deal with the local situation.
§ Mr. Anthony GrantI am aware that this company are to dismiss 1,475 production workers of whom about 550 will be dismissed from their plant at Newark. 491W The reasons given by the Company are the low level of demand for bearings in this country and increasing Japanese competition.
The measures which the Government has taken to stimulate demand for both consumer and capital goods should lead to an increase in the demand for bearings. During my right hon. Friend's visit to Japan at the end of this month he will raise with Japanese Ministers the particular problems to the ball and roller bearing industry resulting from the growth of imports from Japan.
Under the terms of the Industry Bill, now before the House, as part of a derelict land clearance area, Newark would, until March, 1974, be elegible for regional development grants on the same basis as intermediate areas.