Business Investment

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 17th June 1993.

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Photo of Clive Betts Clive Betts , Sheffield, Attercliffe 12:00 am, 17th June 1993

Has the Chancellor read the report by the Bank for International Settlements, to which my hon. Friend the Member for Birmingham, Northfield (Mr. Burden) referred, which shows a major structural weakness in the economy of this country caused by long-term low manufacturing investment? It shows that any recovery is likely to be short lived, since a balance of payments crisis will stop the recovery because of that low level of investment. Will the Chancellor explain to the House what changes in action and policy he will bring about—not words—to rectify the appalling situation caused by 14 years in which his Government have put manufacturing industry at the bottom of the political agenda?