HC Deb 12 July 1976 vol 915 cc96-8W
Mr. Forman

asked the Chancellor of the Exchequer (1) if he will publish in the Official Report a table showing for each present member State of the EEC for each year since 1945 the percentage of the GNP devoted to industrial investment;

(2) if he will publish in the Official Report a table showing for each present member State of the EEC the ratio of investment to output in the private sector of industry for each year since 1945.

Mr. Denzil Davies

The international sources do not provide analyses of fixed investment—gross domestic fixed capital formation—or of output which distinguish the private sector. Analyses of total fixed investment by industry are not available on a consistent basis. Table A shows the total of fixed investment for the available years, 1950 to 1974, as a percentage of gross national product in purchasers' values. Figures for 1950–60 are based on the former United Nations System of National Accounts (former SNA). Table B shows expenditure on machinery and equipment other than transport equipment, which forms a major part of industrial fixed investment, also as a percentage of gross national product. These estimates are not available for years before 1960, or after 1973, or for France or Belgium, or for Luxembourg in the years before 1968.

In the United Kingdom in 1974 industrial fixed investment—defined as gross domestic fixed capital formation by manufacturing industry and other industries covered by the index of industrial production—accounted for £5,000 million,

TABLE A: GROSS DOMESTIC FIXED CAPITAL FORMATION AS A PERCENTAGE OF GROSS NATIONAL PRODUCT IN PURCHASERS' VALUES
(1) 1950–60—Former SNA
West Germany France Italy Netherlands Belgium Luxembourg United Kingdom Irish Republic Denmark
1950 … 18.5 n.a. n.a. 20.1 n.a. n.a. 13.0 16.6 15.9
1951 … 19.2 18.5 17.6 19.3 n.a. n.a. 13.0 18.9 16.9
1952 … 19.6 18.3 19.1 18.6 n.a. 17.5 13.5 17.4 17.2
1953 … 20.7 17.5 19.3 20.9 16.1 24.2 14.0 15.8 17.1
1954 … 21.6 17.8 20.0 21.0 17.1 23.3 14.4 16.7 17.5
1955 … 23.6 19.1 20.6 22.3 17.0 22.4 14.9 17.0 16.1
1956 … 23.8 19.4 20.6 24.8 18.2 19.9 15.1 16.7 16.4
1957 … 22.5 20.5 21.6 25.4 17.6 23.8 15.6 14.1 17.0
1958 … 22.6 20.5 20.5 22.3 16.6 24.0 15.4 13.7 17.4
1959 … 23.9 20.3 20.8 23.0 17.4 23.3 15.7 13.4 18.9
1960 … 23.2 20.2 22.0 23.4 18.9 22.1 16.3 13.8 19.4

(2) 1960–74—Present SNA
West Germany France Italy Netherlands Belgium Luxembourg United Kingdom Irish Republic Denmark
1960 … 24.2 19.0 22.3 23.8 19.1 21.3 16.3 14.0 19.4
1961 … 25.5 20.2 22.8 24.4 20.4 25.2 17.2 15.8 20.9
1962 … 26.3 20.4 23.2 24.1 21.1 26.7 16.8 17.4 20.8
1963 … 26.0 20.7 23.5 23.4 20.5 31.4 16.4 19.0 19.8
1964 … 27.2 22.1 21.8 25.1 22.2 34.7 18.1 20.0 22.1
1965 … 26.8 23.6 18.9 24.8 22.2 28.8 18.1 20.8 21.7
1966 … 26.0 23.2 18.4 25.9 22.7 27.7 18.1 19.2 21.7
1967 … 23.3 23.6 19.1 26.0 22.7 24.8 18.7 19.5 22.2
1968 … 23.3 23.6 20.0 26.6 21.3 22.8 18.9 20.3 21.0
1969 … 24.4 24.0 20.8 24.3 21.1 23.0 18.5 22.7 21.8
1970 … 26.7 24.3 21.2 25.6 22.5 23.8 18.4 22.2 21.8
1971 … 26.9 24.3 20.2 25.7 21.9 28.8 18.3 23.0 21.8
1972 … 26.3 24.4 19.5 23.6 21.3 27.8 18.4 22.4 22.2
1973 … 24.9 24.4 21.0 23.3 21.5 28.0 19.2 23.2 23.2
1974 … 22.8 25.1 23.4 22.1 22.5 25.5 19.8 24.4 22.1

TABLE B: GROSS DOMESTIC FIXED CAPITAL FORMATION—MACHINERY AND EQUIPMENT (OTHER THAN TRANSPORT EQUIPMENT) AS A PERCENTAGE OF GROSS NATIONAL PRODUCT IN PURCHASERS' VALUES
West Germany Italy Netherlands Luxembourg United Kingdom Irish Republic Denmark
1960 … … 8.9 n.a. n.a. n.a. 5.8 4.2 n.a.
1961 … … 9.5 n.a. n.a. n.a. 6.4 5.0 n.a.
1962 … … 9.5 7.7 8.0 n.a. 6.3 5.6 8.3
1963 … … 9.0 7.6 7.9 n.a. 6.3 6.1 9.1
1964 … … 9.0 5.8 6.6 n.a. 6.7 5.6 8.2
1965 … … 9.3 4.4 7.7 n.a. 6.9 5.8 7.7
1966 … … 8.7 4.7 8.4 n.a. 7.2 5.6 7.5
1967 … … 8.0 5.0 7.8 n.a. 7.2 5.5 7.2
1968 … … 8.0 5.2 7.7 6.1 6.9 6.1 6.9
1969 … … 9.1 5.2 7.2 6.7 6.9 6.9 7.1
1970 … … 9.9 5.9 8.3 8.1 7.1 7.2 7.2
1971 … … 9.7 6.1 7.8 10.3 6.7 6.7 6.7
1972 … … 9.1 5.9 7.0 10.1 6.4 6.4 6.5
1973 … … 8.5 7.1 6.6 8.1 6.7 6.4 6.8

Sources: National Accounts of OECD Countries, 1962–73, National Accounts of OECD Countries, 1974, Volume 1, Organisation for Economic Co-operation and Development; National Accounts ESA Aggregates 1960–74, Statistical Office of the European Communities.

out of a total fixed investment of £16,200 million as in table A. Expenditure on machinery and equipment other than transport equipment in the index of production industries was £3,200 million, the major part of expenditure on machinery equipment other than transport equipment in all industries, as in table B, which was £5,500 million.