Spending Review

Part of the debate – in the House of Lords at 5:04 pm on 15th July 2002.

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Photo of Lord McIntosh of Haringey Lord McIntosh of Haringey Deputy Chief Whip (House of Lords), HM Household, Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords) 5:04 pm, 15th July 2002

My Lords, I am grateful to my noble friend Lord Jones for what he says about the Statement in general. I acknowledge the difficulty through which manufacturing industry has been going, and in particular the industries to which he refers. He will have been as encouraged as I was to learn that after a difficult period we are returning to growth in manufacturing industry. After a period of virtually no growth since the year 2000 there are signs of an upturn in manufacturing industry.

My noble friend will also appreciate—he will have a chance to read this in more detail—that the spending review encourages manufacturing industry at its base rather than at the front line. It is the increase in the science budget, the reforms in science teaching and the credits for research and development which are surely the way that a manufacturing industry in the future—which may not be the same as a manufacturing industry in the past—will flourish. That is what the Chancellor is determined to achieve.