Contemporary Luddites

EDM number 1217 in 1989-90, proposed by Alan Williams on 03/07/1990.

That this House believes that the collapse of Britain's manufacturing trade from a surplus of ú3 billion in 1979 to a deficit of ú16 billion in 1989 becomes understandable when it is recognised that investment in manufacturing, having been cut 30 per cent. after the 1979 Opportunity Budget, was ú30 billion less over the decade than it would have been had the manufacturing investment growth rate of 1974/ 79 been maintained (see Chancellor of the Exchequer, Official Report, column 406, 5th June); notes that ú16 billion more would have been invested had we matched the investment growth rates in France or in West Germany and regards this as a major cause of the ú1 billion and ú10 billion manufacturing trade deficits with these two countries; points out that an extra ú30 billion investment, the equivalent of 50 new Nissan car plants, would have meant greater efficiency and competitiveness across most of Britain's industry; condemns this Government, at a time when the country was awash with oil revenues, for this tragic loss of a unique opportunity; and believes that the ú30 billion cut, equivalent to a two-year 10 month total cessation of all manufacturing investment, earns for the Prime Minister the distinction of having led Britain's first Luddite government.

This motion has been signed by a total of 29 MPs.