To ask the Chancellor of the Exchequer what discussions he has had with the Confederation of British Industry concerning recent Budget measures to encourage wider employee share ownership.

My right hon. Friend and I meet the CBI frequently. The CBI has given warm support to our Budget proposals on employee share ownership.

Will my hon. Friend note that management is now increasingly on our side, encouraging employee share schemes and, in particular, welcoming the Budget proposals for schemes which given an incentive to all employees to participate, rather than retaining the old executive share basis? Will my hon. Friend join me in hoping that more trade unions will welcome that development, which can be shown to be in the interests of all employees and should therefore be in the interests of the unions as well?

There has certainly been a good response to the various measures introduced by the Government over a period of years to encourage employee share ownership. A total of 2¼ million employees have now benefited from all-employee schemes. In addition, the number of employees in profit-related pay schemes has increased by no less than 50 per cent. in the past year.

That strikes us as the right way to approach participation by employees in the firms in which they work—in stark contrast with Labour's approach, which seems to be to hand the boardroom keys to the trade union bosses who are Labour's paymasters.

Given that one of the ways in which employee participation and ownership was increased was through the sale of nationalised industries, will the Minister give an assurance to the House that the employees of Northern Ireland Electricity and the citizens of Northern Ireland will have an opportunity to bid for and own shares in Northern Ireland Electricity when it is sold off?

That is a matter for my right hon. Friend the Secretary of State for Northern Ireland, but it is inconceivable that he would propose arrangements which would do anything other than what the hon. Gentleman suggests. It is of great importance that when nationalised industries are privatised we encourage the employees of firms to participate by direct ownership in those companies and that the local population and customers of the industry or service also become owners. That seems to us to be desirable.

When my hon. Friend next meets the Confederation of British Industry, will he discuss its suggestion that compensation for house owners and owners of other properties affected by planning applications should be at the rate of 125 per cent. of market value? If such an increase causes an improvement in the rate at which approvals are considered, it would save an awful lot of money

Order. The question is about share ownership.

I was referring to the CBI and its agenda for discussions with my hon. Friend.

Whether my hon. Friend's question is in order or not, it is a great delight to all of us to see him back in the House in good health and reinvigorated to take part in our deliberations and to take a characteristically forthright and splendid role in our debates.

We discuss a range of matters with the CBI, although the matter to which my hon. Friend referred is not, I confess, one that I have discussed with the CBI myself. However, I look forward to doing so in the near future.