The Rt. Hon. Sir John Major KG CH

Prime Minister of Great Britain and Northern Ireland 1990-1997

1990Chancellor (1989-1990)

Mr Major’s Written Parliamentary Answer on Business Investment – 18 January 1990

Below is the text of Mr Major’s written Parliamentary Answer on Business Investment on 18th January 1990.

Mr. Ian Bruce To ask the Chancellor of the Exchequer what are the latest figures indicating the share of gross domestic product taken by business investment.

Mr. Major Business investment as a proportion of gross domestic product was 14.6 per cent. in 1988. The Industry Act forecast projected total business investment to grow by 9¼ per cent. in 1989. As a share of GDP, in 1989 business investment is likely to be one of the highest since the war.