§ 65. Mr. Grimondasked the Chancellor of the Exchequer what was the total investment last year; what was the amount of productive investment; and if he will give the corresponding estimates for this year adjusted for the change of prices.
§ Mr. R. A. ButlerI would refer the hon. Member to the White Paper on Preliminary National Income and Expenditure Estimates (Cmd. 8486) which explains gross fixed investment expenditure in 1951 in terms of broad sectors of activity. I said in my speech in the House on 29th January that for this year it is the Government's objective to make a cut on the average of about one-sixth of the actual supplies in 1950 of plant, machinery and vehicles to the home market for civil purposes, but to raise the level of building output. I do not propose to give any precise estimate of investment expenditure in 1952.