The Rt. Hon. Sir John Major KG CH

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  • Mr Major’s Written Parliamentary Answer on Business Start-Ups – 8 June 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Business Start-Ups on 8th June 1989.

    Mr. Burt To ask the Chancellor of the Exchequer what is his latest estimate of the number of business start-ups in 1988–89.

    Dr. Twinn To ask the Chancellor of the Exchequer what is his latest estimate of the number of business start-ups in 1988–89.

    Dr. Goodson-Wickes To ask the Chancellor of the Exchequer what is his latest estimate of the number of business start-ups in 1988–89.

    Mr. Major In the calendar year 1987, the latest for which figures have been published by the Department of Employment, the net increase in the number of businesses registered for VAT was 45,000, an average of nearly 900 a week. Indications are that the rate of increase since 1987 has been even faster, and may have amounted to over 1,300 per week. The figures for 1988 will be available later in the summer.

  • Mr Major’s Written Parliamentary Answer on Interest Rates – 8 June 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Interest Rates on 8th June 1989.

    Mr. Cryer To ask the Chancellor of the Exchequer if he will make a statement on the impact of current level of interest rates on the development of manufacturing industry.

    Mr. Major Manufacturing investment reached a record level in 1988 and the outlook is for continued strong growth.

  • Mr Major’s Written Parliamentary Answer on Foreign Investment – 8 June 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Foreign Investment on 8th June 1989.

    Mr. Battle To ask the Chancellor of the Exchequer what was the net flow of foreign direct and portfolio investment into the United Kingdom in 1988.

    Mr. Major Direct and portfolio investment in the United Kingdom by overseas residents (net of disinvestment) is provisionally estimated at £11.2 billion in 1988.

  • Mr Major’s Written Parliamentary Answer on Manufacturing Investment – 8 June 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Manufacturing Investment on 8th June 1989.

    Mr. Mills To ask the Chancellor of the Exchequer what is the latest official projection for the growth of manufacturing investment in 1989.

    Mr. Major I refer my hon. Friend to the reply my right hon. Friend the Chancellor of the Exchequer gave earlier today to my hon. Friend the Member for Wanstead and Woodford (Mr. Arbuthnot).

    Mr. Hoyle To ask the Exchequer what was the level of manufacturing investment in the United Kingdom in 1979 and 1988.

    Mr. Lewis To ask the Chancellor of the Exchequer what was the level of manufacturing investment in the United Kingdom in 1979 and 1988.

    Mr. Loyden To ask the Chancellor of the Exchequer what was the level of manufacturing investment in the United Kingdom in 1979 and 1988.

    Mr. Major The level of manufacturing investment in the United Kingdom in 1985 prices was £11,157 million in 1979 and £11,586 million in 1988.

  • Mr Major’s Written Parliamentary Answer on Balance of Payments – 8 June 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Balance of Payments on 8th June 1989.

    Mr. Wall To ask the Chancellor of the Exchequer if he will forecast the balance of payments in each year until 1992.

    Ms. Abbott To ask the Chancellor of the Exchequer if he will forecast the balance of payments in each year until 1992.

    Mr. O’Brien To ask the Chancellor of the Exchequer if he will forecast the balance of payments in each year until 1992.

    Mrs. Mahon To ask the Chancellor of the Exchequer if he will forecast the balance of payments in each year until 1992.

    Mr. Major The Financial Statement and Budget Report for 1989–90 provides a forecast for the current account of the balance of payments for 1989 and the first half of 1990. Forecasts for later years are not published.

    Mr. Win Griffiths To ask the Chancellor of the Exchequer what was the balance of payments for the first quarter of 1989.

    Mr. Flynn To ask the Chancellor of the Exchequer what was the balance of payments for the first quarter of 1989.

    Mr. Major I refer the hon. Members to the reply my right hon. Friend the Financial Secretary gave earlier today to the hon. Member for Clwyd, South-West (Mr. Jones).

    Mr. Gareth Wardell To ask the Chancellor of the Exchequer what is his latest forecast for the United Kingdom balance of payments for 1989.

    Dr. Kim Howells To ask the Chancellor of the Exchequer what is his latest forecast for the United Kingdom balance of payments for 1989.

    Mr. Rogers To ask the Chancellor of the Exchequer what is his latest forecast for the United Kingdom balance of payments for 1989.

    Mr. Major I refer the hon. Members to the reply I gave to the hon. Member for Cardiff, West (Mr. Morgan) on 6 June.

  • Mr Major’s Written Parliamentary Answer on Manufacturing Output – 8 June 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Manufacturing Output on 8th June 1989.

    Mrs. Peacock To ask the Chancellor of the Exchequer what has been the annual rate of growth of manufacturing output over the last two years.

    Mr. William Powell To ask the Chancellor of the Exchequer what has been the annual rate of growth of manufacturing output over the last two years.

    Mr. Major In the two years to the first quarter of this year, manufacturing output grew at an average annual rate of 7.1 per cent.

  • Mr Major’s Written Parliamentary Answer on Labour Statistics – 8 June 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Labour Statistics on 8th June 1989.

    Mr. Couchman To ask the Chancellor of the Exchequer by how much employment in the United Kingdom has risen since 1983.

    Mr. Charles Wardle To ask the Chancellor of the Exchequer by how much employment in the United Kingdom has risen since 1983.

    Mr. Summerson To ask the Chancellor of the Exchequer by how much employment in the United Kingdom has risen since 1983.

    Mr. Cash To ask the Chancellor of the Exchequer by how much employment in the United Kingdom has risen since 1983.

    Mr. Major Total employment in the United Kingdom has increased by 2,951,000 since March 1983.

    Mr. Stevens To ask the Chancellor of the Exchequer how many people are now registered as self-employed; and what was the comparable figure in 1979.

    Mr. Andrew Mitchell To ask the Chancellor of the Exchequer how many people are now registered as self-employed; and what was the comparable figure in 1979.

    Mr. Major In December 1988 3,048,000 people were self-employed in the United Kingdom compared with 1,906,000 in June 1979, an increase of 60 per cent.

    Mr. Thorne To ask the Chancellor of the Exchequer for how many months adult unemployment has fallen continuously in the United Kingdom.

    Mr. Major Unemployment in the United Kingdom has fallen for 33 months in succession.

  • Mr Major’s Written Parliamentary Answer on Public Debt – 8 June 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Public Debt on 8th June 1989.

    Mr. Allan Stewart To ask the Chancellor of the Exchequer what is his estimate of the proportion of the public debt which will have been repaid in the three years to 1989–90.

    Mr. Neil Hamilton To ask the Chancellor of the Exchequer what is his estimate of the proportion of the public debt which will have been repaid in the three years to 1989–90.

    Mr. Ian Taylor To ask the Chancellor of the Exchequer what is his estimate of the proportion of the public debt which will have been repaid in the three years to 1989–90.

    Mr. Major It is estimated that roughly one sixth of net public sector debt will have been repaid in the three years to 1989–90.

  • Mr Major’s Parliamentary Answer on Economic Growth – 8 June 1989

    Below is the text of Mr Major’s response on Economic Growth on 8th June 1989 in the House of Commons.

    Mr. Oppenheim To ask the Chancellor of the Exchequer what was the rate of economic growth in the latest year for which figures are available.

    Mr. Major Gross domestic product is estimated to have grown by 41/2 per cent. in 1988.

    Mr. Oppenheim Is it true that, whereas a great deal of investment in manufacturing in the 1970s was directed by politicians into uneconomic enterprises or into uncommercial capacity, it is now being directed by private industry into proper jobs and proper industry? Perhaps that is why, whereas under the last Labour Government manufacturing output fell, it has risen sharply under this Government.

    Mr. Major That is right, and it is why we are now well into the eighth successful year of sustained growth of more than 3 per cent. During the past seven years there has been a combination of strong and steady growth that has not been matched since the war.

    Mr. Campbell-Savours Would there not be a substantial increase in growth if the Government adopted a positive policy of import substitution? Will the Minister reflect on my modest contribution to last night’s debate, when I set out a scheme for private sector support for industry that would lead to a substantial number of jobs, cost the state very little and, to some extent, reduce the trade deficit? Will the Minister read what I said last night and, perhaps, drop me a line about it?

    Mr. Major I always read carefully what the hon. Gentleman has said, although some of the ideas that he advanced yesterday were tried not wholly successfully in earlier years. I welcome the efforts many industries are now making to provide goods to be sold at home at competitive rates as an alternative to imports. I hope that they will continue to do that.

  • Mr Major’s Parliamentary Answer on Manufacturing Output – 8 June 1989

    Below is the text of Mr Major’s response on Manufacturing Output on 8th June 1989 in the House of Commons.

    Mr. Ward To ask the Chancellor of the Exchequer what has been the annual rate of growth of manufacturing output over the last two years.

    Mr. Major In the two years to the first quarter of this year, manufacturing output grew at an average annual rate of 7.1 per cent.

    Mr. Ward Does my right hon. Friend agree that the news about investment in manufacturing that we have just heard is good news for tomorrow? However, the answer that he has just given indicates that the supply side boom, which the Government have been working for, is with us today.

    Mr. Major My hon. Friend is right. The strength of manufacturing output shows clearly that the supply side changes of recent years are working. My hon. Friend will be pleased to know that the levels of investment that we have seen recently will ensure that that continues.

    Mr. Mullin In view of the lavish claims being made about the level of manufacturing investment, will the Chancellor have another go at explaining the figures that I put to him yesterday – that according to the latest figures from the Department of Trade and Industry, manufacturing investment in the north-east stands now at 53 per cent. of what it did in 1979?

    Mr. Major That relates to manufacturing output. In fact, manufacturing investment has risen by 14½ per cent. in the last year to a record level.