asked the Minister for Industry and Commerce the total budget, both direct and indirect, for industrial promotion, including grants for the coming year; the way in which it compares with similar resources available in the past; and if he has any plans for changing the terms or the nature of such grants, subsidies and other assistance.
Written Answers. - Industrial Promotion Budget.
43.
Industrial promotion and development is facilitated by Government expenditure and incentives in respect of many of which I do not have a direct responsibility. However, total expenditure by my Department and by the agencies under the aegis of my Department in respect of expenditure on industrial promotion in 1988 is expected to be around £256 million. This compares with an estimated expenditure of £281 million in 1987 and expenditure of £281.6 million in 1983.
As indicated in the Programme for National Recovery it is the intention of the Government to effect a shift in expenditure away from the support of fixed asset investment to the upgrading of marketing, product development, R&D and management expertise. However, the extent to which, and the speed with which, this shift is achieved will depend on the type of industrial projects which come on stream and their particular needs and deficiencies.