§ Mr. LawsTo ask the Chancellor of the Exchequer what the level of public sector net investment was as a share of GDP in(a) 1998–99, (b) 1999–2000, (c) 2000–01 and (d) 2001–02; what estimates were made by his Department in the Budgets of (i) 1997, (ii) 1998, (iii) 1999 and (iv) 2000; and if he will make a statement. [20342]
§ Mr. Andrew SmithThe table sets out public sector net investment (PSNI) as a proportion of GDP in the years requested, together with the projections made in the Budgets between 1997 and 2000.
1998–99 1999–2000 2000–01 2001–02 Pre-Budget report 2001 0.7 0.5 0.7 1.3 Budget 2000 0.6 0.6 0.9 1.2 Budget 1999 0.4 0.6 0.8 1.0 Budget 1998 0.8 n/a n/a n/a Budget 1997 0.9 n/a n/a n/a PSNI figures are regularly revised by the Office for National Statistics, and can be affected by revisions to depreciation, as well as actual public sector capital spend. In particular, the Office for National Statistics made very significant revisions in the summer of 1998, which makes the figures before and after Budget 1998 difficult to compare.
§ Mr. LawsTo ask the Chancellor of the Exchequer what his estimate is of the level of public sector investment as a share of gross domestic product in each year from 1978–79 to 2002–03; and if he will make a statement. [20214]
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§ Mr. Andrew SmithThe level of public sector net investment, as a proportion of GDP, between 1978–79 and 2000–01 is set out in table B23 of the pre-Budget report. Projections for this year, and future years, are set out in table B6 of the same report.