HC Deb 02 March 1976 vol 906 c544W
Mr. David Howell

asked the Chancellor of the Exchequer what are the rates of growth of gross investment, net investment and output in manufacturing industry implied by the three gross domestic product growth cases in the latest Public Expenditure White Paper.

Mr. Joel Barnett

The average annual increase, 1974–79, of gross fixed investment at 1970 market prices by manufacturing industry consistent with Case 11 GDP growth is 5½ per cent. The average annual increase in net fixed investment, on a slightly different basis from that for gross fixed investment, is nearly 6 per cent. The average annual increase in manufacturing output is just under 4 per cent. Case I and Case III GDP are not estimated in as much detail as the central Case II, so that the corresponding figures for them are not available.

Mr. David Howell

asked the Chancellor of the Exchequer if he will publish details of the past relationships between industrial investment and gross domestic product growth referred to in paragraph 23, page 8 of the Public Expenditure White Paper, Command Paper No. 6393.

Mr. Joel Barnett

Details of the past relationship between private industrial investment and GDP growth are described in sections 2 and 3 of the October 1974 edition of the Treasury Macroeconomics Model Technical Manual, a copy of which is available in the House of Commons Library. This presents the model as it was on 1st October 1974 and formed the basis of the projections of private industrial investment presented in Cmnd. 6393.

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