HC Deb 04 December 1989 vol 163 c22W
Mr. Austin Mitchell

To ask the Chancellor of the Exchequer what effect the increase since January 1987 in both the nominal and real exchange rates against the D-mark has had on manufacturing capacity and on the future rate of growth in terms of the balance of payments constraint; and whether this has led him to revise the Treasury model of the economy.

Mr. Norman Lamont

The level of manufacturing investment (including leased assets) in 1989 quarter 3 is provisionally estimated to be about 38 per cent. higher than in 1987 quarter 1; and its cumulative growth over this period has added substantially to manufacturing capacity. The Treasury model is updated when necessary in the light of latest data.