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1987-1990 - Mr Major’s Written Parliamentary Answer on Investment

Below is the text of Mr Major's written Parliamentary Answer on Investment on 4th July 1989.

Mr. Butterfill To ask the Chancellor of the Exchequer if he will list the total investment growth figures for each of the last 10 years; and if he will make a statement.

Mr. Major The figures for total investment growth in the United Kingdom at 1985 prices, over the last 10 years, are shown in the table.

United Kingdom total Gross Domestic Fixed Capital Formation (1985 prices) per cent. change on a year earlier

Per cent. | change

1978 3.01

1979 2.80

1980 -5.37

1981 -9.58

1982 5.42

1983 5.03

1984 8.60

1985 3.80

1986 1.66

1987 7.98

1988 12.25

Source: CSO.

Between 1980 and 1988 the United Kingdom had the fastest growth of total investment of all the EC countries.

Mr. Patnick To ask the Chancellor of the Exchequer what proportion of investment in United Kingdom industry over the past 10 years can be accounted for by internally generated funds.

Mr. Major Companies' undistributed income is used to finance a variety of expenditure, including investment, but it is not possible to say to what extent investment has been financed by internally or externally generated funds.