Below is the text of Mr Major’s written Parliamentary Answer on Capital Investment on 8th December 1988.
Mr. Cran To ask the Chancellor of the Exchequer by what proportion he expects fixed capital investment to rise in 1988 over 1987.
Mr. Major Total fixed capital investment was forecast in the Autumn Statement to grow in real terms by 12 per cent. in 1988.
Below is the text of Mr Major’s written Parliamentary Answer on Disposable Income on 8th December 1988.
Dr. Twinn To ask the Chancellor of the Exchequer what are the latest figures for real personal disposable income in the British economy.
Mr. Major In the first half of 1988 real personal disposable income was 3 per cent. higher than in the first half of 1987.
Below is the text of Mr Major’s written Parliamentary Answer on Expenditure on 8th December 1988.
Mr. John Ward To ask the Chancellor of the Exchequer what is the proportion of gross domestic product represented by general Government expenditure; and what was the comparable figure in 1982-83.
Mr. Major The Autumn Statement gave a forecast of 39.75 per cent. for the ratio of general Government expenditure (excluding privatisation proceeds) to gross domestic product in 1988-89. The corresponding figure for 1982-83 was 46.75 per cent.
Mr. Hayward To ask the Chancellor of the Exchequer if he will make a further statement on the outlook for public expenditure in 1989-90.
Mr. Major As my right hon. Friend the Chancellor of the Exchequer told the House in his Autumn Statement on 1 November, the public expenditure planning total for 1989-90 will remain at £167.1 billion, the level published in the last public expenditure White Paper. Further details of the public expenditure plans will be given in the 1989 public expenditure White Paper, to be published in the new year.
Dr. Bray To ask the Chancellor of the Exchequer by what percentage the level of the price index or gross domestic product deflator for 1989-90 assumed in the autumn statement 1988 in table 1.1 on trends in public expenditure exceeds that assumed for 1989-90 in the autumn statement for 1987 in table 2.2.
Mr. Major In the 1988 Autumn Statement the GDP deflator is assumed to rise by 5 per cent. in 1989-90. This is 1.5 per cent. higher than the corresponding figure assumed in 1987.
Below is the text of Mr Major’s written Parliamentary Answer on Adult Unemployment on 8th December 1988.
Mr. Patrick Thompson To ask the Chancellor of the Exchequer what assessment has been made of the effect upon the economy of the fall in adult unemployment since 1981.
Mr. Major The seasonally adjusted unemployment rate has decreased from 9.0 per cent. at the end of 1981 to 7.7 per cent. in October this year. This has been accompanied by an increase in the workforce in employment of more than 1.6 million, which together with an exceptionally strong increase in productivity, has been reflected in a rate of growth of output since 1980 faster than that in any other major EC country.
Below is the text of Mr Major’s written Parliamentary Answer on the Confederation of British Industry on 8th December 1988.
Mr. Ron Davies To ask the Chancellor of the Exchequer when he next expects to meet representatives of the Confederation of British Industry; and what matters will be discussed.
Mr. Flynn To ask the Chancellor of the Exchequer when does he next expect to meet representatives of the Confederation of British Industry; and what matters will be discussed.
Mr. Major I refer the hon. Members to the reply that my right hon. Friend the Chancellor of the Exchequer gave earlier today to the hon. Member for Wolverhampton, South-East (Mr. Turner).
Below is the text of Mr Major’s written Parliamentary Answer on Investment on 8th December 1988.
Mr. Bright To ask the Chancellor of the Exchequer if he will make a statement on the level of investment in the economy.
Mr. Major Total real fixed investment in the first half of 1988 was at its highest level ever, having grown by 9.6 per cent. on the same period a year earlier.
Below is the text of Mr Major’s written Parliamentary Answer on Growth on 8th December 1988.
Mr. Moss To ask the Chancellor of the Exchequer what has been the growth between 1981 and 1987 of (a) consumer expenditure, (b) exports and (c) investment in the British economy.
Mrs. Roe To ask the Chancellor of the Exchequer what has been the growth between 1981 and 1987 of (a) consumer expenditure, (b) exports and (c) investment in the British economy.
Mr. Major Between 1981 and 1987 consumers’ expenditure grew by 23 per cent. compared with growth of 28 per cent. for exports of goods and services and 33 per cent. for investment.
Sir Michael McNair-Wilson To ask the Chancellor of the Exchequer what is the latest figure for the growth of output in the economy.
Mr. Major The output measure of gross domestic product is estimated to have grown by 5 per cent. in the year to 1988, third quarter.
Mr. Stevens To ask the Chancellor of the Exchequer what has been the average annual growth of productivity in the United Kingdom economy since 1980.
Mr. Major Whole economy productivity has grown by an average of 2.75 per cent. a year since 1980, a rate similar to that of Japan and faster than all other major industrial countries.
Below is the text of Mr Major’s written Parliamentary Answer on Balance of Payments on 8th December 1988.
Mr. Ted Garrett To ask the Chancellor of the Exchequer if he will make a statement on the current balance of payments position.
Mr. Major Recent import figures and other indicators have shown that domestic demand has been growing rather too fast. Appropriate action has been taken.
Below is the text of Mr Major’s written Parliamentary Answer on Inflation on 8th December 1988.
Mr. Alton To ask the Chancellor of the Exchequer what action he intends to take to make up the shortfall on spending experienced by Departments committed to projects whose costs have risen through increased inflation.
Mr. Major New plans were announced by my right hon. Friend the Chancellor of the Exchequer in his Autumn Statement on 1 November. Although the expected level of inflation was a factor that was considered when setting these plans, public expenditure is planned in cash terms and in general there is no automatic adjustment for higher prices. The planning total for 1989-90 remains £167.1 billion, the same level published in the last public expenditure White Paper. Within that unchanged total there is provision for substantial increases in spending on priority programmes.
Below is the text of Mr Major’s written Parliamentary Answer on Press Briefings on 8th December 1988.
Mr. Winnick To ask the Chancellor of the Exchequer when he next plans to hold a briefing meeting with journalists; and what subjects he intends to discuss.
Mr. Major I have nothing to add to the answer that the hon. Member received from my right hon. Friend on 11 November at columns 358-59.
Mr. Dalyell To ask the Chancellor of the Exchequer if he will take steps to ensure that his future interviews with the press are recorded by two or more tape-recorders.
Mr. Major I have nothing to add to the answer that I gave to the hon. Member for Walsall, North (Mr. Winnick) earlier today.