HC Deb 08 April 1987 vol 114 cc265-6W
Mr. Meacher

asked the Chancellor of the Exchequer what has been the level of investment, capital consumption and net investment each year in manufacturing industry since 1970.

Mr. MacGregor

[pursuant to his reply, 3 April 1987, c. 629]:Figures of gross domestic fixed capital formation, capital consumption and net domestic fixed capital

Gains (£ per week), net of indexation, from the main income tax proposals1 in all Budgets from 1979 to 1987, at 1987–88 income levels
Multiples of Average Earnings2
½ ¾ 1 1½ 2 5 10
Single Person (Non-aged)
change in:—
basic rate3 4.03 7.43 10.84 17.65 20.65 20.65 20.65
personal allowances 2.35 2.35 2.35 2.35 3.56 5.91 5.91
reduced rate band -2.46 -2.46 -2.46 -2.46 -2.46 -2.46 -2.46
higher rates and thresholds 2.62 100.90 362.30
Total4 3.91 7.31 10.73 17.54 25.21 131.05 392.45
Married man (Non-aged)
change in:—
basic rate 3 2.44 5.85 9.26 16.08 20.65 20.65 20.65
personal allowances 3.74 3.74 3.74 3.74 5.11 9.42 9.42
reduced rate band -2.46 -2.46 -2.46 -2.46 -2.46 -2.46 -2.46
higher rates and thresholds 2.62 100.90 362.30
Total 4 3.72 7.14 10.54 17.36 25.92 128.51 389.90
1 Excluding abolition of investment income surcharge.
2 Full time adult males (all occupations) forecast earnings for 1987–88 £227.30 per week.
3 Assuming changes to personal allowances, the reduced rate bands and the higher rate thresholds are made first.
4 The sum of the component changes may vary by a penny from the total change given due to rounding.

Gains (£ per week) from the main income tax proposals in the 1987 Budget
Multiples of Average Earnings1
½ ¾ 1 1½ 2 5 10
Single Person (Non-aged)
Current Prices: change in
formation for manufacturing industries are given in the table. These figures do not include capital goods leased to manufacturers from financial lessors. Figures of capital consumption and net domestic fixed capital formation in 1986 are not yet available.
Acquisition and consumption of fixed assets by manufacturing industries
£ million
Gross domestic fixed capital formation Capital consumption Net domestic fixed capital formation
1970 2,089 1,188 901
1971 2,102 1,375 727
1972 1,968 1,534 434
1973 2,356 1,759 597
1974 3,062 2,170 892
1975 3,458 2,771 687
1976 3,910 3,369 541
1977 4,730 3,996 734
1978 5,624 4,591 1,033
1979 6,515 5,272 1,243
1980 6,478 6,241 237
1981 5,318 6,854 -1,536
1982 5,480 7,302 -1,822
1983 5,854 7,664 -1,810
1984 7,341 8,016 -675
1985 7,950 8,601 -651
1986 8,334 n.a. n.a.
n.a. = not available.