§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer how much was invested in manufacturing industry in the 10 years to January 1979 and the 10 years since, net of capital consumption and expressed in terms of 1985 prices.
§ Mr. Norman LamontIn the decade to the end of 1978, gross domestic fixed capital formation by the manufacturing industries is estimated to have been £95 billion at 1985 prices. In the following decade it is estimated to have been £83 billion. These figures exclude capital goods leased from financial sector lessors. Including leased assets, gross domestic fixed capital formation was £94 billion in the decade to the end of 1988. Estimates including leased assets are not available for the preceding decade, when leasing was a less important feature of investment. Estimates of net domestic fixed capital formation must be interpreted with some caution, since they depend on estimates of capital consumption, which are not directly observable and so are based on a series of assumptions. On this basis, net domestic fixed capital formation by the manufacturing industries is estimated to have been £26 billion in the decade to the end of 1978 and for the following decade, including leased assets, £3 billion (minus £2 billion excluding leased assets).
§ Mr. Denzil DaviesTo ask the Chancellor of the Exchequer what percentage of the increase in private non-residential fixed investment in the period 1987 to 1989 was accounted for by investment in manufacturing industry.
§ Mr. Major1988 is the last full year for which data are available. The data for 1987 and 1988 may be found in the "United Kingdom National Accounts" 1989 edition (CSO Blue Book).