§ Mr. Ridley
asked the Chancellor of the Exchequer what is his estimate of private industry's current annual new investment in research, development, stocks, and working capital, respectively.
§ Mr. William Rodgers
The latest information on research and development relates to 1967–68 when the expenditure by private industry out of its own resources208W
to present economic conditions I cannot provide an estimate. Changes in the system and rates of taxation have steered the economy in a particular direction, and it would not be meaningful to attempt an estimate of total revenue by applying former tax rates to the very different economic situation of today.