Below is the text of Mr Major’s written Parliamentary Answer on Economic Growth on 14th July 1988.
Mr. Oppenheim To ask the Chancellor of the Exchequer what is his forecast for economic growth in the United Kingdom in the next year.
Mr. Major My right hon. Friend, the Chancellor of the Exchequer’s latest forecast was published at Budget time. It showed growth of 3 per cent. in whole economy output in 1988 equivalent to 3.5 per cent. growth on a non-oil basis. However, as my right hon. Friend reported to the House on 16 June at column 554 it now looks as though growth in 1988 may prove slightly higher than this.