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Industrial Investment

Volume 890: debated on Monday 21 April 1975

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asked the Chancellor of the Exchequer if he will now take steps designed to improve confidence in industry, in particular by encouraging an improvement in the return on capital in new investment, with a view to stimulating new orders and employment opportunities.

The stock relief measures introduced last November and now continued and expanded to embrace companies which did not previously qualify, and the recent Price Code relaxations, will greatly improve the financial position of the corporate sector this year. My right hon. Friend also announced in his Budget speech that we intend to make full use of the powers of selective assistance under the Industry Act to prime the pump for viable investment projects. The Government are committed to the maintenance of a profitable manufacturing sector, but in difficult times industry must continue to bear its share of the burden.