§ Mr. MeacherTo ask the Chancellor of the Exchequer what was the level of manufacturing investment made each year since 1979 by(a) foreign direct investors in the United Kingdom and (b) indigenous manufacturers; and what are the percentage annual changes these figures represent.
§ Mr. Norman LamontComparable information relates to capital expenditure on fixed assets by foreign owned manufacturing businesses and by United Kingdom-owned manufacturing businesses. It is available, on the current definition of manufacturing in the 1980 standard industrial classification, only from 1981. Information on foreign ownership is available biennially up to 1985 and annually up to 1987. The data are given from 1981 in the table.
Net capital expenditure of manufacturing1 private sector businesses in the United Kingdom Foreign owned businesses2 United Kingdom owned businesses3 Total £ million £ million £ million 1981 1,402 4,091 5,493 1983 1,397 4,664 6,061 1985 1,844 6,579 8,423 1986 1,715 6,683 8,398 1987 1,989 7,340 9,329 Percentage increase from 1981 to 1987 41.9 79.4 Source: Censuses of production.
1 Divisions 2–4, Standard Industrial Classification, revised 1980.
2 Foreign owned businesses are defined as those controlled or owned by companies incorporated overseas.
3Includes privatised businesses from the year of privatisation.