Below is the text of Mr Major’s written Parliamentary Answer on Manufacturing Industry on 10th November 1988.
Mr. Austin Mitchell To ask the Chancellor of the Exchequer what is the reason for the real decline in net domestic fixed capital formation in manufacturing industry between 1979 and 1987; what has been the effect on output and employment of the decline in the real fixed capital of manufacturing industry between 1979 and 1987; and what was the corresponding figure for 1974 to 1979.
Mr. Major [holding answer 3 November 1988]: Movements in net domestic fixed capital formation, output, and employment in manufacturing industry reflect many complex factors. But manufacturing investment is likely to grow by 18 per cent. in 1988, and output is expected to rise by 7 per cent.