Leasing

HC Deb 11 May 1988 vol 133 c311

11. Sir Fergus Montgomery

To ask the Chancellor of the Duchy of Lancaster what was the value of the leasing industry in (a) 1987 and (b) 1986.

Mr. Atkins

The latest estimate of finance provided by the leasing industry in 1987 is £.3.4 billion at 1980 prices. The corresponding amount in 1986 was £3.1 billion at 1980 prices.

Sir Fergus Montgomery

Does my hon. Friend agree that that reply shows the contribution made to the United Kingdom economy by the service sector? Would it be true to say that the service sector in this country—

Mr. Tony Banks

Stop reading, Fergus.

Mr. Speaker

Order. It is perfectly OK. The hon. Member is glancing at his notes.

Sir Fergus Montgomery

Does my hon. Friend agree that the service sector contributes twice as much to the economy in output and three times as much in employment as the manufacturing sector?

Mr. Atkins

My hon. Friend has stolen my thunder. He is quite right.