§ Mr. Meacherasked the Secretary of State for Industry if he will state the level of United Kingdom manufacturing investment, in gross and net terms respectively, for each year since 1960; what was the ratio in each of these years to the gross national product at current prices; and what is the comparable data for France, West Germany, the United States of America, Japan and Sweden.
§ Mr. David Mitchell, pursuant to his reply [Official Report, 13 June 1979; Vol.968, c. 242], gave the following information:
The United Kingdom investment figures are given in the tables below. No figures are available for France and the 293W Federal Republic of Germany and only gross manufacturing investment is readily available for the other countries. Comparable
MANUFACTURING INDUSTRY Gross domestic fixed capital formation at current market prices Domestic fixed capital formation net of capital consumption at current market prices Japan Yen Sweden USA United Kingdom United Kingdom thousand million Kronor million Dollars million £ million £ million 1960 … .. .. .. 1,021 518 1961 … .. .. .. 1,248 698 1962 … .. .. .. 1,182 591 1963 … .. 4,324 .. 1,068 437 1964 … .. 4,116 25,934 1,232 563 1965 … 1,980 4,761 31,303 1,423 692 1966 … 2,074 5,449 35,736 1,517 726 1967 … 3,190 5,665 36,200 1,485 662 1968 … 4,315 5,600 39,897 1,639 740 1969 … 5,325 5,912 43,700 1,822 860 1970 … 6,481 6,646 43,617 2,130 1,046 1971 … 6,211 7,153 44,291 2,187 949 1972 … 5,914 7,824 47,844 2,044 669 1973 … 7,862 9,343 53,679 2,347 784 1974 … 9,668 12,146 58,866 3,067 1,133 1975 … 7,116 13,870 57,641 3,522 1,043 1976 … 7,626 15,336 62,225 3,958 964 1977 … .. .. .. 4,862 1,337 1978 … .. .. .. 5,794 1,774* * Capital consumption for 1978 is an estimate.
GROSS DOMESTIC FIXED CAPITAL FORMATION AS A PERCENTAGE OF GROSS DOMESTIC PRODUCT* At current market prices Japan Sweden USA United Kingdom 1960 … … … … .. .. .. 4.0 1961 … … … … .. .. .. 4.6 1962 … … … … .. .. .. 4.1 1963 … … … … .. 4.7 .. 3.5 1964 … … … … .. 4.0 4.1 3.7 1965 … … … … 6.2 4.2 4.6 4.0 1966 … … … … 5.6 4.4 4.8 4.0 1967 … … … … 7.3 4.2 4.6 3.7 1968 … … … … 8.3 4.0 4.6 3.8 1969 … … … … 8.9 3.8 4.7 3.9 1970 … … … … 9.2 3.9 4.4 4.2 1971 … … … … 7.8 3.9 4.2 3.8 1972 … … … … 6.5 3.9 4.1 3.2 1973 … … … … 7.1 4.2 4.1 3.2 1974 … … … … 7.3 4.9 4.2 3.7 1975 … … … … 4.9 4.8 3.9 3.4 1976 … … … … 4.6 4.7 3.7 3.2 1977 … … … … .. .. .. 3.5 1978 … … … … .. .. .. 3.6 * The percentages are of gross domestic product, a measure of national income that is more consistent with the measures of manufacturing investment. Sources: Overseas data—OECD National Accounts 1976 and earlier volumes. United Kingdom data— National Income and Expenditure 1967–76. Trade and Industry 1 June 1979 and CSO. All data, except that for Japan, is according to the new System of National Accounts.