Mr Major’s Written Parliamentary Answer on the Gross Domestic Product – 4 July 1988

Below is the text of Mr Major’s written Parliamentary Answer on the Gross Domestic Product on 4th July 1988.

Sir Ian Gilmour To ask the Chancellor of the Exchequer if, in the light of the recent publication by his Department of the medium term financial strategy assumptions since 1980 relating to money gross domestic product, he will provide all the parallel assumptions relating to real gross domestic product, personal consumption, manufacturing and total private investment, the balance of payments and unemployment.

Mr. Major Medium term financial strategy assumptions since 1980 for the growth of real gross domestic product can he found in successive financial statement and budget reports, which also include short term forecasts for, inter alia, consumers’ expenditure, investment and the current account of the balance of payments. Unemployment assumptions based on the convention of a flat path over the medium term have been published in successive public expenditure White Papers.