Mr Major’s Written Parliamentary Answer on Economic Growth – 14 April 1988

Below is the text of Mr Major’s written Parliamentary Answer on Economic Growth on 14th April 1988.

Mr. Greg Knight To ask the Chancellor of the Exchequer what has been the average rate of growth in the British economy (a) for the last five years and (b) for the period 1974 to 1979.

Mr. Major Over the last five years the average annual rate of growth has been 3.3 per cent., considerably above the 2 per cent. average from 1974 to 1979.

Mr. Bellingham To ask the Chancellor of the Exchequer what was the last year before 1987 when real growth in the economy exceeded the rate of inflation.

Mr. Charles Wardle To ask the Chancellor of the Exchequer what was the last year before 1987 when real growth in the economy exceeded the rate of inflation.

Mr. Major The last year, prior to 1987, in which output growth exceeded inflation was 1964.

Mr. Cash To ask the Chancellor of the Exchequer for how many years the rate of economic growth in the United Kingdom has averaged 3 per cent. or more.

Mr. Major I refer my hon. Friend to the answer the Economic Secretary gave earlier today to my hon. Friend the Member for Gedling (Mr. Mitchell).