Oral Answers to Questions — Industrial Strategy

Part of the debate – in the House of Commons at 12:00 am on 4 December 1975.

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Photo of Mr Harold Wilson Mr Harold Wilson , Huyton 12:00, 4 December 1975

There is no difference between Government money provided in subsidies to the shipbuilding or aircraft industries when they are privately owned and the same money being supplied under public ownership. [Hon. Members: "Compensation."] If hon. Members opposite want to make a case for lower compensation, they are free to do so.

This is a matter which the House must debate in detail in dealing with the legislation. My hon. Friend is absolutely right on the general issue that he raised. Those who talk about cutting expenditure generally have the duty—I have been pleading for them to exercise it for a year—to tell the House what they would cut.