§ Mr. Lawsonasked the Chancellor of the Exchequer what is his estimate of the likely cost to the Exchequer of a major extension of public ownership in North Sea oil, the nationalisation of the ports, the pharmaceutical industry, at least one major building company, part of the fishing, timber and road haulage industries, the establishment of a State bank, the social ownership of agricultural land, and the creation of I million new jobs to help counter unemployment.
§ Mr. Joel BarnettThe primary effect on the Exchequer of a change in the levels of public ownership in the economy is upon the relative amount of finance raised through public and private channels. The first part of the hon. Member's Question does not lend itself to this sort of analysis. As for the second part, the House is well aware that the creation of additional jobs through better performance of our economy is of net benefit to the Exchequer.