§ Mr. Meacherasked the Secretary of State for Trade and Industry what are the latest figures of investment in industrial plant and machinery; and how they compare with those for June 1970.
§ Mr. Anthony GrantCapital expenditure on plant and machinery in manufacturing, distributive and service industries—at 1970 prices seasonally adjusted—for the three years from June 1970 to June 1973 was £6,518 million. For the three years prior to June 1970 the figure was £6,079 million. For the second quarter of 1973 the figure was £543 million and for the same quarter in 1970 it was £577 million. Third quarter figures will be published on 3rd December. Further details were published in the 4th October 1973 issue ofTrade and Industry.
§ Mr. Meacherasked the Secretary of State for Trade and Industry what has been the level of investment in industrial plant and machinery for each quarter since January 1970; and, for each quarter, what has been the percentage change compared to June 1970.
§ Mr. Anthony GrantSince the first quarter of 1970 the estimates of the volume of investment in plant and machinery, at 1970 prices seasonally adjusted, by manufacturing, distributive and service industries have been as follows:
557W
£ million (1970 prices) Percentage change on Q2 1970 1970: Q1 559 -3 Q2 577 — Q3 580 +1 Q4 582 +1 1971: Q1 557 -3 Q2 548 -5 Q3 553 -4 Q4 527 -9 1972: Q1 536 -7 Q2 522 -10 Q3 507 -12 Q4 512 -11 1973: Q1 550 -5 Q2 543 -6 In the first half of 1973 the volume of investment in plant and machinery was 7 per cent. higher than in the second half of 1972.