§ 33. Mrs. Haymanasked the Secretary of State for Industry what steps he is taking to safeguard that proportion of the 56W British aerospace industry which is engaged in civil projects.
§ Mr. Benn:We believe that the establishment of the proposed Aircraft Corporation offers the best means of ensuring the success of the aircraft industry. As to investment in the interim period, compensation will be fair, and nationalisation is not a reasonable argument for withholding investment. The legislation will contain provisions to safeguard the assets to be nationalised against dissipation.
§ 35. Mr. Tebbitasked the Secretary of State for Industry if he has yet made any estimates of the changes in productivity, profitability, efficiency, volume of exports, and public accountability which are expected to follow nationalisation of the aerospace construction industry.
§ Mr. Meacher:We believe that public ownership will secure the long-term viability of the industry, allow its total resources to be most efficiently planned and directed in accordance with the national economic interest and so improve its performance in all these respects. Public accountability will be enhanced by establishing a more comprehensive and orderly framework for our relations with the industry concentrated at the strategic rather than the detailed level.
§ 37. Mr. Goodhewasked the Secretary of State for Industry if he will make a statement of his plans for the continuation of the British aerospace industry's design capability.
§ Mr. Meacher:We have made it clear that the Government want to see a successful and efficient industry. This means maintaining an independent design capability, and we shall look to the new Aircraft Corporation to work out what will be needed.