§ 17. Mr. Jim CunninghamTo ask the President of the Board of Trade if he will make a statement on the percentage change in manufacturing output for (a) 1996 over 1995 and (b) 1995 over 1994. [15039]
§ Mr. Greg KnightManufacturing output was 2.2 per cent. higher in 1995 than in 1994. Last year it rose by a further 0.5 per cent. to reach its highest ever level. The CBI expects manufacturing output to grow by 3.4 per cent. this year.
§ Mr. CunninghamThe Minister's answer paints a rosy picture, but is he aware that, according to the Office for National Statistics, capital investment is down 16 per cent. on last year? What does he have to say about that?
§ Mr. KnightI will tell the House what I have to say about that. Manufacturing output has risen by 10 per cent. since the recovery began, and manufacturing exports have risen by more than a third—to record levels—since the recovery began. The hon. Gentleman should welcome that.