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International Investment

Volume 930: debated on Wednesday 27 April 1977

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asked the Secretary of State for Industry what progress is being made with the operations of OECD guidelines on multi-national investment in the United Kingdom; and if these guidelines require further strengthening.

The OECD package, agreed in June 1976, on international investment was published in Cmnd. 6525, in which I commended to United Kingdom companies the guidelines for multinational enterprises. The CBI and TUC gave their support and have also taken steps to bring the guidelines to the attention of British industry and trade unions. I believe that more experience is needed to evaluate the operation of the guidelines. The package is to be reviewed by mid-1979, and we shall draw on the experience gained through the OECD's inter-govermental consultation machinery, which provides the main forum for monitoring and review.