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 Gross Domestic Products (Business Investment) – 8 June 1989

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Below is the text of Mr Major’s written Parliamentary Answer on Gross Domestic Products (Business Investment) on 8th June 1989.

Mr. Watts To ask the Chancellor of the Exchequer what was the share of gross domestic product represented by business investment in 1988.

Mr. Major Business investment as a share of GDP was 14.6 per cent. in 1988, the highest level recorded.

Mr. Strang To ask the Chancellor of the Exchequer whether he has made any study of the likely effect of a further increase in interest rates on the level of manufacturing investments in the current year.

Mr. Major Developments in the economy are constantly monitored. Manufacturing investment is growing strongly and the outlook remains good.