§ Mr. Sillarsasked the Secretary of State for Trade and Industry what evidence he has to show that Scotland has not lost new investment because of the relaxation of IDC policy.
§ Mr. Anthony GrantIn July 1972 the Government abolished IDC control in the development and special development areas and raised the exemption limits elsewhere in order to facilitate new industrial investment in Britain as a whole. Since that time there has been a 16 per cent. increase in the number of inquiries from industrialists wishing to bring projects to Scotland and inquiries and applications for Government factories in Scotland are running at a record level. The Government's various measures to encourage industrial growth have thus been followed by increased new investment in Scotland.
§ Mr. Martenasked the Secretary of State for Trade and Industry what percentage of industrial investment was estimated to have come from internal self-financing and from sources external to industry for the latest convenient 12 month period.
§ Sir G. HoweFor large industrial companies in 1971, 72 per cent. and 28 per cent. respectively. Internal sources are taken as gross income less interest, tax and dividend payments, and external sources as issues of loan and share capital for cash, investment grants and other capital receipts, and net increases in creditors and in bank and other short-term borrowing.