The Rt. Hon. Sir John Major KG CH

Prime Minister of Great Britain and Northern Ireland 1990-1997

Chief Secretary (1987-1989)

Mr Major’s Written Parliamentary Answer on Economic Growth (Interest Rates) – 14 July 1988

Below is the text of Mr Major’s written Parliamentary Answer on Economic Growth (Interest Rates) on 14th July 1988.

Mr. Bellingham To ask the Chancellor of the Exchequer what is his assessment of the effect of the current instability of interest rates on investment in industry over the next year; and what assessment he has made of the effect this will have on the current level of economic growth in the United Kingdom.

Mr. Major With interest rates close to their average levels for recent years, there is every sign that investment growth will be strong in 1988, as projected in the FSBR and the latest DTI investment intentions survey. This will contribute to the continuation of the strong and steady growth seen since 1981.