§ Mr. BowisTo ask the Chancellor of the Exchequer if he will provide figures for gross and net investment, as totals per head and as a proportion of gross domestic product for the last five available years in the following countries: Norway, Sweden, Japan, Western Germany, France, the United States of America, Italy and the United Kingdom.
§ Mr. John Major[holding answer 11 March 1988]: The following three tables give annual data for 1982 to 1986 for gross and for net fixed investment as a percentage of gross domestic product and for gross fixed investment per head of the population in US dollars. Comparable figures, in a common currently, are not available for net investment per head.
Gross fixed capital formation as a percentage of gross domestic product1 1982 1983 1984 1985 1986 United States of America 17.2 17.2 18.0 18.1 17.8 Japan 29.7 28.3 27.9 27.7 27.8 Germany 20.5 20.5 20.2 19.7 19.4 France 21.4 20.2 19 .3 19.0 18.8 United Kingdom 16.2 16.2 17.3 17.2 17.2 Italy 22.3 21 3 21.2 21.2 20.1 Norway 25.5 25.7 26.0 21.7 27.6 Sweden 18.8 18.7 18.6 19.1 18.2 1 Exact definitions of fixed capital formation vary from country to country. Source: Calculated from OECD National Accounts 1960 to 1986.
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Net fixed capital formation as a percentage of gross domestic product1 1982 1983 1984 1985 1986 United States of America 3.1 3.6 5.2 5.4 5.3 Japan 16.2 14.6 14.2 13.9 14.1 Germany 7.8 7.9 7.6 7.1 7.1 France 9.0 7.8 7.4 7.2 6.8 United Kingdom 4.0 4.1 5.1 5.2 4.9 Italy 11.1 10.2 10.3 10.4 9.2 Norway 10 .3 10 .9 12.2 8.3 13.1 Sweden 6.9 6.8 6.9 7.5 6.9 1 Net fixed capital formation is gross capital formation after providing for depreciation. Estimates of depreciation are subject to a very wide margin of error and are not comparable between countries. Gross domestic product does not provide for depreciation, and is therefore not an appropriate denominator. Source: Calculated from OECD National Accounts 1960 to 1986.
Gross fixed capital formation per head1 1982 1983 1984 1985 1986 United States 2,312 2,460 2,827 2,991 3,091 Japan 2,852 2,875 3,074 3,270 3,427 Germany 2,075 2,190 2,306 2,386 2,478 France 2,206 2,161 2,166 2,226 2,300 United Kingdom 1,472 1,567 1,766 1,882 1,976 Italy 2,066 2,035 2,174 2,291 2,294 Norway 2,794 3,040 3,357 3,041 4,120 Sweden 1,989 2,092 2,233 2,415 2,387 1 US dollars, at current prices and OECD estimates of purchasing power parities. Source: OECD National Accounts 1960–86.