HC Deb 15 March 1989 vol 149 cc261-2W
31. Mr. Matthew Taylor

To ask the Chancellor of the Duchy of Lancaster what is the latest figure for the level of manufacturing investment; and if he will make a statement.

Mr. Atkins

In 1988 manufacturing investment, including leased asset and at 1985 prices on the provisional estimate, amounted to £11 billion, nearly 10 per cent. higher than in 1987. In his Financial Statement and Budget Report, my right hon. Friend the Chancellor of the Exchequer forecast further strong growth in business investment. This is supported by the Department of Trade and Industry's latest investment intentions survey and that conducted by the CBI.

64. Dr. Moonie

To ask the Chancellor of the Duchy of Lancaster when he expects manufacturing investment to return to its 1979 level.

Mr. Atkins

Manufacturing investment in real terms in 1988 on the provisional estimate was close to its 1979 level and 10 per cent. higher than in 1987. In his Financial Statement and Budget Report, my right hon. Friend the Chancellor of the Exchequer forecast further strong growth in business investment. This is supported by the Department of Trade and Industry's latest investment intentions survey and that conducted by the CBI.

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