§ Mr. Ernie Rossasked the Secretary of State for Industry what is the current investment per employee in manufacturing industry at current exchange rates in the United Kingdom, the Federal Republic of Germany, the United States of America, the Netherlands, Italy, the Republic of Ireland, France and Belgium.
§ Mr. David MitchellExchange rates do not necessarily reflect the purchasing power of national currencies in terms of the goods and services available in the countries being compared. The use of purchasing power parities rather than exchange rates would considerably reduce the investment per head figures for all countries except the United Kingdom and Ireland.
673WThe investment figures are on the basis of ownership, the usual basis, and so do not include assets leased to manufacturers from outside their industry. The extent of leasing will vary in different countries and between different years:
Gross fixed capital formation at current prices (converted by the exchange rates of 1976 and 1977 respectively)per head of employment, in manufacturing industry £ 1976 1977 United Kingdom … … … … … … 537 651 Federal Republic of Germany … … … … 1,075 n.a. United States of America … … … … … 1,755 2,074 Netherlands* … … … … … … … 1,682 2,218 Italy … … … … … … … … n.a. n.a. Ireland … … … … … … … … 907 n.a. France† … … … … … … … 1,689 1,815 Belgium … … … … … … … 1,238 1,305 n.a.=not available * The figures given include the petroleum and natural gas industries and are 'per man year' not 'per head'. †Covers manufacturing, mining and quarrying, electricity, gas and water. Source: National Accounts of OECD countries 1960–77 vol II: on the basis of the United Nations' present System of National Accounts (SNA) except for Belgium which is on the former SNA. Labour Force Statistics 1966–77 OECD.