Mr. Alan Williams
This has been covered in a number of individual industrial studies carried out or sponsored by the Department.
The hon. Gentleman will know that there has been a substantial upturn in the rate of investment, and we consider that this is highly desirable. On the other hand, we equally recognise that we want, so far as we can, to reduce the average age of machinery in industry. I am sure that hon. Gentlemen opposite found exactly the same problem when they were in office.