The latest available figure for the index of production in manufacturing industry is the provisional estimate for April this year of 106·8. The index for April 1974 stood at 108·3.
Does my hon. Friend agree that the fall in manufacturing output during the period that the last Government were in power showed clearly how their industrial strategy had failed? What steps does my hon. Friend intend to take to ensure that manufacturing output rises during the term of this Government?
Under the last Government the problem with industry was that incentives were so small that it was like trying to run a Rolls-Royce on one-star petrol. The changes that we have started to introduce, beginning with the Budget, are designed to restore incentives and make it possible for business men in companies of all sizes to seek extra business and to expand.
What machinery is the Minister establishing to monitor any relationship that there may be between the so-called incentives introduced in the Budget and growth in manufacturing output?