Clause 33. — (Increase of Investmeni Allowances.)

Part of Orders of the Day — Finance Bill – in the House of Commons at 12:00 am on 21st May 1963.

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Photo of Mr Cyril Bence Mr Cyril Bence , Dunbartonshire East 12:00 am, 21st May 1963

The contribution by the hon. Member for Louth (Sir C. Osborne) showed how dangerous it is to come into this Chamber half way through the speech of another hon. Member and to make an intervention on the strength of the small part of that hon. Member's speech which may have been heard. Had the hon. Member for Louth been in the Chamber when my hon. Friend the Member for Ashton-under-Lyne (Mr. Rhodes) began his speech he would know that a number of times my hon. Friend made the point that we should all like to know how to plan for years ahead, but that industrialists had to plan from day to day or from week to week. The hon. Member for Louth did not hear that and so he did not appreciate what my hon. Friend was talking about, and that was rather unfortunate.

I wish to discuss this Clause from the point of view of the effect of investment allowances on different industries. I am in favour of the provisions in this Clause. But my experience of industry has taught me that where investment is high and is managed competently, everyone works under better conditions and for better wages than in an industry where investment is poor and badly managed. As a trade unionist who has worked for the benefit of people in industry, I wish to see high and competent investment properly managed and administered and a Government fiscal policy which would encourage this.