HC Deb 28 October 1987 vol 121 c329W
Mr. Cohen

asked the Chancellor of the Exchequer what is his estimate of jobs created for the expenditure of £1 billion in (i) defence spending, (ii) public transport, (iii) construction, (iv) health and (v) education.

Mr. Major

Irrespective of composition, higher overall public expenditure is unlikely to have any lasting beneficial effect on the level of employment for the economy as a whole. Estimates of the short-run effects are unreliable because they depend critically on the economic model and the underlying assumptions that are used.