§ Mr. Biffenasked the Secretary of State for Trade and Industry if he will list the projects affected by the Chancellor's statement of public expenditure retrenchment announced on 21st May which fall on his Vote and indicate the total savings expected for the current and prospective year.
§ Mr. Peter WalkerThe bulk of the savings falling on DTI Votes will be achieved by adopting a more selective approach to new projects as they come forward, in the field of advanced technology and under Section 8 of the Industry Act. There will also be some saving in assistance under Section 7 of the Industry Act through changes in the techniques of support aimed at reducing the short-term call on public expenditure. Total savings in 1974–75 will be £35 million, and consequential savings in 1973–74 are estimated at about £15 million.
£100 million will be saved on capital expenditure by the DTI nationalised industries in 1974–75. This expenditure is not borne on DTI Votes. The detailed allocation of the cuts will depend on the outcome of consultations now in progress with the chairmen of the nationalised industries concerned. The consequential savings in 1973–74 will depend in part on the projects chosen.
For the effect on my Vote(s) of the policy on Civil Service manpower announced in the Chancellor of the Exchequer's statement, I would refer my hon. Friend to the reply given today to his Question to the Minister for the Civil Service.