§ Mr. Geoffrey Robinsonasked the Secretary of State for Industry what is the Government's estimate of the level of investment by manufacturing industry in the current financial year compared with the last financial year.
§ Mr. David MitchellThe Department's survey of manufacturers' investment intentions obtains information for calendar years. The results published at the end of May indicated a fall in the volume of investment in 1980 of 8 to 12 per cent, below the 1979 level of £3,873 million at 1975 prices.
The provisional estimate of manufacturers' capital expenditure for the first three quarters of 1980, £2,726 million at 1975 prices, seasonally adjusted, is consistent with the estimated range. The results of the current survey for 1981 and 1982 will be released with an estimate for 1980, on 18 December.