Mr. Jim Callaghanasked the Secretary of State for Trade and Industry if he will make a statement on the current level of investment in United Kingdom manufacturing industry.
§ Mr. TrippierThe provisional estimate of capital expenditure—including leased assets—in the manufacturing industries — revised definition* — in the fourth quarter of 1983 is £1,318 million at 1980 prices seasonally adjusted—about 4 per cent. higher than in the previous quarter. This upturn was not sufficient to offset the decline in the level of investment earlier in the year so that the total investment for 1983 at £5,102 million was lower than in the previous year. On the basis of the survey of investment intentions carried out by my Department, total investment in manufacturing is expected to rise by around 9 per cent. in 1984.
* Divisions 2–4, standard industrial classification (Revised 1980).
Mr. Jim Callaghanasked the Secretary of State for Trade and Industry if he will make a statement on the current level of investment in manufacturing industry in the North West Region.
§ Mr. TrippierThe latest available information on the level of manufacturing investment in the north west region relates to 1981. In that year manufacturing net capital expenditure in the region is estimated to have been £766 million—14 per cent. of the United Kingdom total.