§ Mr. Andrew TurnerTo ask the Prime Minister pursuant to his answer to the right hon. and learned Member for Folkestone and Hythe (Mr. Howard) of 17 December 2003,Official Report, column 1564, what his definition is of public sector investment; and where else in official publications his definition has been employed. [146107]
§ The Prime MinisterPublic sector investment is defined as capital formation plus the net acquisition of land plus expenditure on capital grants. Capital formation is defined as expenditure, net of sales, on fixed assets (such as buildings, vehicles and machinery), and net stock building.
Public sector investment can be measured gross or net of depreciation. Public sector net investment and public sector gross investment are measured using data from the national accounts as defined and measured by the Office for National Statistics.
Several official publications use these definitions, including the Financial Statement and Budget report, pre-Budget report and Public Expenditure Statistical Analyses.