§ Mr. Dodsworthasked the Secretary of State for Prices and Consumer Protection what is her estimate of the increased generation of exports, the furthering of investment and the improvement in working capital resulting from her policies under the existing price code.
§ Mr. MaclennanWhile quantitative estimates are not possible, I am aware of cases where firms consider that price controls on home sales have led them to devote more resources to export.
In claiming the investment relief which my right hon. Friend added to the code in December 1974, firms have cited plans for nearly £2,000 million of capital expenditure, which the Price Commission is monitoring. Price controls reduce cash flows, and make it more difficult to improve the level of working capital from retained profits.
§ Mr. Dodsworthasked the Secretary of State for Prices and Consumer Protection what consultations she has had with the Trades Union Congress and with individual trade unions, concerning changes in the Price Code in relation to stimulating investment and exports; and if she will make a statement.
§ Mr. MaclennanMy right hon. Friend has had a number of discussions with TUC representatives concerning price policy. The TUC will shortly receive a formal invitation to comment on the consultative document on a new price code. Any representations which individual trade unions wish to make will be carefully considered.