§ Mrs. Curtis-ThomasTo ask the Secretary of State for Trade and Industry what assessment he has made of the level of investment by UK companies in(a) plant, (b) machinery and (c) product development in the last five years. [77634]
§ Mr. Byers[holding answer 25 March 1999]: The UK's past record on investment has been disappointing. Business tells us that one of the main factors holding back investment was the UK's record of macroeconomic instability. That is why the Government have acted swiftly to put economic management on a more stable footing 445W and why the Government's White Paper on Competitiveness and recent Budget have introduced measures to stimulate investment and encourage enterprise.