HC Deb 23 April 1996 vol 276 c60W
Mrs. Beckett

To ask the Chancellor of the Exchequer what was the percentage growth in business investment in 1995 over its level in 1994; if he will make a statement on the differences between the growth in business investment in 1995 and his forecast in the November 1995 Red Book; and what is his revised forecast of business investment for 1996 and 1997. [25550]

Mr. Waldegrave

[holding answer 19 April 1996]: Business investment, as defined in chapter 3 of the "Financial Statement and Budget Report", grew by 1.8 per cent. in 1995 compared with the November FSBR forecast of 3¼per cent. This difference reflects subsequent revisions to the Office for National Statistics data for 1994 and earlier quarters of 1995. Business investment actually grew more quickly in 1995 Q3 and Q4 than forecast. The FSBR forecast shows business investment growth of 9 per cent. in 1996 and 6¾per cent. in the year to the first half of 1997.