§ Mr. David Priceasked the Chancellor of the Exchequer, in view of the forecasts given on page 11 of the Financial Statement and Budget Report 1977–78 that manufacturing output will increase by only 2½ per cent. over the next 12 months, if he will now abandon the Scenario II targets for industrial growth and produce a new set of lower targets for the remaining years of the quinquennium up to 1980.
§ Mr. Joel BarnettThe main message of last summer's NEDC paper on medium-term prospects, that the rate of growth of output and employment depends essentially on improved industrial performance, is still entirely valid. It is, indeed, demonstrated again by the forecasts in the Financial Statement and Budget Report 1977–78, where improved industrial and trading performance is shown to give a figure of 4 per cent. for growth in manufacturing production as against the 2½ per cent. quoted by the hon. Member. The question of providing a revised view on medium-term prospects for NEDC will be decided in
248Wadjusted to give the same return as when they were originally introduced; and what those prizes now are.
§ Mr. Denzil DaviesThe information requested is included in the following:
the light of the developing work on industrial strategy.