Category: Chief Secretary (1987-1989)

Below is the text of Mr Major’s written Parliamentary Answer on Inflation and Unemployment on 23rd February 1989.

Mr. Macdonald To ask the Chancellor of the Exchequer if he will give the total number of months in which inflation and unemployment fell simultaneously in the 117 months between May 1979 and January 1989.

Mr. Major The annual rate of change in the retail prices index has fallen in about half of the months between May 1979 and January 1989 and has averaged less than 5 per cent. over the last five years, compared with an average of about 15 per cent. between 1974 and 1979. Unemployment has fallen for the last 30 months in succession to under 2 million. Inflation and unemployment have fallen simultaneously in five months.

Below is the text of Mr Major’s written Parliamentary Answer on Debt Repayment on 23rd February 1989.

Mr. Sumberg To ask the Chancellor of the Exchequer how much debt repayment has been made in each of the past two years.

Mr. Major The public sector debt repayment (PSDR) in 1987–88 was £3.5 billion. In 1988–89, the PSDR now looks likely to be somewhat higher than the £10 billion forecast in the Autumn Statement. This will be the first time that we have seen two successive years of public sector debt repayment since the beginning of the 1950s.

Below is the text of Mr Major’s written Parliamentary Answer on Exports and Imports on 23rd February 1989.

Ms. Mowlam To ask the Chancellor of the Exchequer if he will publish figures on the growth in visible exports and imports for 1988 and provide his latest forecast for 1989.

Mr. Major Between 1987 and 1988 the volume of visible exports grew by ¼ per cent. and the volume of visible imports grew by 13 per cent. The latest forecast for 1989 was published in the Autumn Statement.

Below is the text of Mr Major’s written Parliamentary Answer on Banking Flows on 23rd February 1989.

Mr. Rooker To ask the Chancellor of the Exchequer if he will publish the amount of banking flows into the United Kingdom in 1987 and 1988.

Mr. Major Banking flows into the United Kingdom are estimated to have been £54.7 billion in 1987 and £35.3 billion in the first three quarters of 1988.

Below is the text of Mr Major’s written Parliamentary Answer on the CBI on 23rd February 1989.

Mr. Gill To ask the Chancellor of the Exchequer when he last met the director general of the Confederation of British Industry; and what matters were discussed.

Mr. McLoughlin To ask the Chancellor of the Exchequer when he last met the director general of the Confederation of British Industry; and what matters were discussed.

Mr. Couchman To ask the Chancellor of the Exchequer when he last met the director general of the Confederation of British Industry; and what matters were discussed.

Mr. Charles Wardle To ask the Chancellor of the Exchequer when he last met the director general of the Confederation of British Industry; and what matters were discussed.

Mr. Major My right hon. Friend meets the director general of the CBI from time to time and a wide range of subjects are discussed.

Below is the text of Mr Major’s written Parliamentary Answer on Government Expenditure on 23rd February 1989.

Mr. Janman To ask the Chancellor of the Exchequer if he will make a statement on the path of general Government expenditure over the period 1982–83 to the latest available date.

Mr. Yeo To ask the Chancellor of the Exchequer if he will make a statement on the path of general Government expenditure over the period 1982–83 to the latest available date.

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

Below is the text of Mr Major’s written Parliamentary Answer on Labour Statistics on 23rd February 1989.

Mr. Brandon-Bravo To ask the Chancellor of the Exchequer what was the total fall in long-term unemployment in the year to October 1988.

Mr. Ian Bruce To ask the Chancellor of the Exchequer what was the total fall in long-term unemployment in the year to October 1988.

Mr. Goodlad To ask the Chancellor of the Exchequer what was the total fall in long-term unemployment in the year to October 1988.

Mr. Wilshire To ask the Chancellor of the Exchequer what was the total fall in long-term unemployment in the year to October 1988.

Mr. Major In the year to October 1988, long-term unemployment fell by 280,000.

Below is the text of Mr Major’s written Parliamentary Answer on Overseas Assets on 23rd February 1989.

Mr. Jacques Arnold To ask the Chancellor of the Exchequer what is his estimate of the stock of United Kingdom net overseas assets at the end of 1987; and what earnings were generated by these assets in 1987.

Mr. Watts To ask the Chancellor of the Exchequer what is his estimate of the stock of United Kingdom net overseas assets at the end of 1987; and what earnings were generated by these assets in 1987.

Mr. Hayward To ask the Chancellor of the Exchequer what is his estimate of the stock of United Kingdom net overseas assets at the end of 1987; and what earnings were generated by those assets in 1987.

Mr. Paice To ask the Chancellor of the Exchequer what is his estimate of the stock of United Kingdom net overseas assets at the end of 1987; and what earnings were generated by these assets in 1987.

Mr. Moss To ask the Chancellor of the Exchequer what is his estimate of the stock of United Kingdom net overseas assets at the end of 1987; and what earnings were generated by these assets in 1987.

Mr. Major The stock of net overseas assets is estimated to have been £89.5 billion at the end of 1987. The net earnings on the United Kingdom’s net assets in 1987 are estimated to have been £5,463 million.

Below is the text of Mr Major’s written Parliamentary Answer on Companies (Rate of Return) on 23rd February 1989.

Mr. Evennett To ask the Chancellor of the Exchequer if he will give an estimate of the net real rate of return on non-North sea industrial and commercial companies in 1987.

Mr. Ian Taylor To ask the Chancellor of the Exchequer if he will give an estimate of the net real rate of return on non-North sea industrial and commercial companies in 1987.

Mr. Mans To ask the Chancellor of the Exchequer if he will give an estimate of the net real rate of return of non-North sea industrial and commercial companies in 1987.

Mr. Major The net rate of return for non-North sea industrial and commercial companies rose for the sixth successive year to reach 10.2 per cent. in 1987. For 1988 it was forecast to be about 12 per cent. in the Autumn Statement, its highest level for 24 years.

Below is the text of Mr Major’s written Parliamentary Answer on Manufacturing Industry on 23rd February 1989.

Mr. Burt To ask the Chancellor of the Exchequer what is his latest estimate of the investment intention of British manufacturing industry.

Mr. Irvine To ask the Chancellor of the Exchequer what is his latest estimate of the investment intentions of British manufacturing industry.

Mr. Key To ask the Chancellor of the Exchequer what is his latest estimate of the investment intentions of British manufacturing industry.

Mr. Major The latest survey of investment intentions carried out by the Department of Trade and Industry and published in December showed that manufacturing investment was expected to increase by 11 per cent. in real terms in 1989.