Below is the text of Mr Major's written Parliamentary Answer on Manufacturing Industry on 26th November 1987.
Mr. Fisher To ask the Chancellor of the Exchequer what was the balance of trade in manufactured goods for the United Kingdom in 1979; and what is the anticipated figure for 1988.
Mr. Major Since 1979 the volume of the United Kingdom's manufactured exports have grown by 27 per cent. In 1988 the deficit in manufactured trade is likely to show a £9 billion deficit, largely because of the rapid growth in the United Kingdom economy compared to that of its competitors. In 1979 exports of manufactures were £31 billion and there was a surplus of £2.7 billion on manufactured trade.
Mr. Gerald Howarth To ask the Chancellor of the Exchequer what has been the growth of United Kingdom manufacturing productivity since 1980.
Mr. Major Manufacturing output per head grew at an average annual rate of 5.25 per cent, between 1980 and the third quarter of 1987.
Mr. Bright To ask the Chancellor of the Exchequer what are the latest figures for the net real rate of return in British manufacturing.
Mr. Major I refer my hon. Friend to the answer given earlier today to my hon. Friend the Member for Langbaurgh (Mr. Holt).