§ Mr. MorganTo ask the Chancellor of the Exchequer (1) what is the percentage rate of growth of investment for each year from 1985 to 1989 in(a) manufacturing industry, (b) the property sector, (c) other production industries and (d) service industries;
(2) what is the percentage rate of growth of investment in fixed assets for each year from 1985 to 1989, exclusive of all firms transferred from the public sector to the private sector during the period in (a) manufacturing industry, (b) property industry, (c) other production industries and, (d) service industries;
(3) what is the percentage rate of growth of investment in fixed assets for each year from 1985 to 1989 in (a) manufacturing industry, (b) property industry, (c) other production industries and (d) service industries.
§ Mr. Norman Lamont[holding answer 7 November 1989]: Data for gross domestic fixed capital formation by industry group are available in table 13.7 of "United Kingdom National Accounts" 1989 edition. Figures for calendar year 1989 are not yet available. For reasons of confidentiality, no estimates are available which allow for the reclassification of industries between the public and private sectors. Data for some industrial groups are not available in 1988. The reasons for this are given in the methodological notes of the "United Kingdom National Accounts".
Figures for growth in investment by property companies are not available in this table. They are set out in the table for the three years up to 1987 (the last for which figures are available). Though growth of property companies investment was rapid, its weight in total business investment is small. Excluding property companies' investment, and after allowing for the re-phasing of investment caused by the 1984 corporation tax reform, business investment still rose rapidly over this period, reflecting the success of this Government's policy in restoring profitability and business confidence.
Annual percentage growth, 1985 prices 1985 1986 1987 1988 Property companies' fixed investment1 8 40 75 n/a 1 Excluding new dwellings and purchases less sales of land and existing building.