§ Mr. Tebbitasked the Chancellor of the Exchequer if he will list for every year since 1945 the level of manufacturing investment, expressed (a) in real terms to take account of inflation and (b) as a percentage of gross domestic product.
§ Mr. Denzil DaviesFollowing is the available information:
GROSS DOMESTIC FIXED CAPITAL FORMATION BY MANUFACTURING INDUSTRY At 1970 prices £ million At current prices Per cent of GDP at market prices 1948 n.a. 2.7 1949 n.a. 3.0 1950 n.a. 3.4 1951 n.a. 3.6 1952 n.a. 3.5 1953 n.a. 3.3 1954 n.a. 3.3 1955 1,111 3.6 1956 1,282 4.0 1957 1,358 4.2 1958 1,289 4.0 1959 1,231 3.6 1960 1,436 4.0 1961 1,706 4.6 1962 1,575 4.1 1963 1,381 3.5 1964 1,561 3.7 1965 1,726 4.0 1966 1,774 4.0 1967 1,738 3.7 1968* 1,800 3.8 1969* 2,029 3.9 1970 2,130 4.2 1971 1,988 3.8 1972 1,721 3.2 1973 1,730 3.2 1974 1,964 3.8 1975 1,695 3.4 1976 1,633 3.2 1977 1,764 3.5 *The figures for 1968 and 1969 have been adjusted to transfer from 1968 to 1969 capital expenditure brought forward to secure the higher rate of investment grant operating up to 31st December 1968. 1948 is the earliest year for which estimates of investment by manufacturing industry are available; and 1955 is the earliest year for which corresponding estimates at 1970 prices are available.