§ Mr. Bill MichieTo ask the Chancellor of the Exchequer what estimate he has made of business investment in 1991; and what is the level of business investment in(a) France, (b) Italy and (c) Germany, respectively.
§ Mr. MaplesIn the autumn statement, business investment in the United Kingdom in 1991 was forecast to be £56 billion at 1985 prices.
The latest estimates of private non-residential investment—the standardised international definition which is closest to business investment—for the United Kingdom, France, Germany and Italy are for 1989. They are set out in the table as a share of GDP. The United Kingdom devoted a larger share of its GDP to private non-residential investment than the other three countries.
Private non-residential investment as a share of GDP, 1989 Share of GDP United Kingdom 13.9 France 12.6 Germany 12.8 Italy 112.4 1 1988; 1989 not available.