Below is the text of Mr Major’s written Parliamentary Answer on Investment on 18th January 1990.
Mr. Jack Thompson To ask the Chancellor of the Exchequer what is the Treasury’s forecast for the growth of total investment.
Mr. Major The Autumn Statement forecast projected investment to rise by 5¼ per cent. in 1989 and 1¾ per cent. in 1990. This comes after an average growth of 7¼ per cent. a year between 1983 and 1988.
Mr. Hanley To ask the Chancellor of the Exchequer what was the growth in total investment since 1983.
Mr. Norman Lamont Total investment grew by 42 per cent. between 1983 and 1988, an annual average increase of 7¼ per cent. This is far higher than the growth range recorded under the last Labour Government, which averaged ¼ per cent. per year.