Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 16 May 1991.
Mr Andrew Hunter
, Basingstoke
12:00,
16 May 1991
To ask the Chancellor of the exchequer if he will make a further statement on the current level of United Kingdom manufacturing industry exports.
Mr David Mellor
, Putney
In the latest quarter, manufactured export volumes —excluding erratics — were 3 per cent. up on a year earlier, compared with a fall in imports of 4 per cent.
Mr Andrew Hunter
, Basingstoke
Will my right hon. and learned Friend confirm that during the past two years, the United Kingdom's share of the world trade in manufactures has increased, that United Kingdom manufacturing exports have increased by 18 per cent. and that this year investment in United Kingdom manufacturing industry is expected to increase by 60 per cent. over the 1981 figure? Does not that make a mockery of Opposition attempts to spread doom and gloom?
Mr David Mellor
, Putney
A number of manufacturing industries are certainly going through a difficult time at present, and nothing that I say is intended to diminish that fact. As the main answer to the question and some of the points made by my hon. Friend the Member for Basingstoke (Mr. Hunter) show, manufacturing industry is well capable of bouncing back from this recession and there are all manner of good statistics to be drawn from our performance. When points are made about investment, the extent to which investment increased in the late 1980s should be borne in mind.
Nick Brown
Shadow Spokesperson (Treasury)
Will the Chief Secretary acknowledge that export-led manufacturing industry plays an important part in this country's employment base? The Chief Secretary and his fellow Ministers were quick enough to claim the credit when they thought that unemployment was coming down. Now that we are in the 13th month in which the unemployment figures have risen, rather than fallen, will the Chief Secretary, on behalf of the Government's Treasury team, come to the Dispatch Box and take his share of the blame?
Mr David Mellor
, Putney
It is true that manufacturing export performance is important in this country. That is why, despite the Labour party's perennial endeavour to talk down British industry and important parts of it, it is worth while saluting our manufacturing performance. Manufacturing exports have done well in recent years. In the British car industry, figures for the first quarter of this year show a 40 per cent. increase in exports compared with a year earlier. That is impressive and shows the underlying strength of British manufacturing.
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