Below is the text of Mr Major’s written Parliamentary Answer on the Public Sector Borrowing Requirement on 9th July 1987.
Mr. Yeo Asked the Chancellor of the Exchequer what is his latest forecast for the public sector borrowing requirement for 1987-88.
Mr. Major The figure is £3.9 billion, or 1 per cent. of GDP – as published in the “Financial Statement and Budget Report” for 1987-88.
Below is the text of Mr Major’s written Parliamentary Answer on Unemployment Costs on 9th July 1987.
Mr. Nigel Griffiths Asked the Chancellor of the Exchequer whether he will provide an estimate of the cost of unemployment in Scotland.
Mr. Major I regret that regional figures for benefit expenditure on the unemployed are not available.
Below is the text of Mr Major’s written Parliamentary Answer on Oil Prices on 9th July 1987.
Mr. Salmond Asked the Chancellor of the Exchequer what is his Department’s current assessment of the impact of lower oil prices on the United Kingdom’s economy.
Mr. Major Individuals and companies are benefiting from lower fuel costs and the manufacturing sector is already responding to the competitiveness gains which have occurred.
Below is the text of Mr Major’s written Parliamentary Answer on Public Expenditure on 9th July 1987.
Mr. Ralph Howell Asked the Chancellor of the Exchequer what is his latest estimate of general Government expenditure as a proportion of gross domestic product.
Mr. Couchman Asked the Chancellor of the Exchequer what is his latest estimate of general Government expenditure as a proportion of gross domestic product.
Mr. Major General government expenditure represented just under 43 per cent. of gross domestic product in 1986-87.
Mr. Rowe Asked the Chancellor of the Exchequer what is his latest estimate of central Government expenditure as a proportion of gross domestic product.
Mr. Major The normal measure for assessing trends in public spending is general government expenditure as a percentage of GDP. The latest estimate for that in 1986-87 is 43 per cent. The figure for central Government expenditure is 32 per cent.
Below is the text of Mr Major’s written Parliamentary Answer on Manufacturing Industry on 9th July 1987.
Mr. Bruce Asked the Chancellor of the Exchequer what is the current projected deficit in manufactured goods compared with the estimates at the time of the last Budget.
Mr. Major The performance so far in 1987 has been better than implied at Budget time; in the four months to April the trade deficit in manufactures fell by £1.1 billion compared to the last four months of 1986. A new forecast will be published in the usual way at the time of the autumn statement.
Below is the text of Mr Major’s written Parliamentary Answer on Economic Growth on 9th July 1987.
Mr. Wilkinson Asked the Chancellor of the Exchequer how the growth of economic output in the United Kingdom since 1983 compares with that of other major industrialised countries.
Mr. Major Since 1983 output in the United Kingdom has grown faster than in any other major European economy.
Mr. John Hunt Asked the Chancellor of the Exchequer what is his latest estimate of the growth of the output in the economy.
Mr. Gwilym Jones Asked the Chancellor of the Exchequer what is his latest estimate of the growth of output in the economy.
Mr. Major Measured at 1980 prices, the average estimate of gross domestic product at factor cost is provisionally estimated to have risen by 3.5 per cent. in the year to the first quarter of 1987.
Below is the text of Mr Major’s written Parliamentary Answer on Privatisation on 9th July 1987.
Mr. Stott Asked the Chancellor of the Exchequer what is his latest estimate of receipts from privatisation for the year 1987-88.
Mr. Major £5 billion.
Below is the text of Mr Major’s written Parliamentary Answer on Economic Growth on 9th July 1987.
Mr. Wilkinson Asked the Chancellor of the Exchequer how the growth of economic output in the United Kingdom since 1983 compares with that of other major industrialised countries.
Mr. Major Since 1983 output in the United Kingdom has grown faster than in any other major European economy.
Mr. John Hunt Asked the Chancellor of the Exchequer what is his latest estimate of the growth of the output in the economy.
Mr. Gwilym Jones Asked the Chancellor of the Exchequer what is his latest estimate of the growth of output in the economy.
Mr. Major Measured at 1980 prices, the average estimate of gross domestic product at factor cost is provisionally estimated to have risen by 3.5 per cent. in the year to the first quarter of 1987.
Below is the text of Mr Major’s written Parliamentary Answer on Unit Labour Costs on 9th July 1987.
Sir Anthony Meyer Asked the Chancellor of the Exchequer what are the latest figures for the growth of unit labour costs.
Mr. Major In the fourth quarter of 1986, wages and salaries per unit of output in the whole economy were 5.2 per cent. above the corresponding period of 1985. In the manufacturing sector, in the three months to April 1987, wages and salaries per unit of output were 0.9 per cent. above the corresponding period a year earlier.
Below is the text of Mr Major’s written Parliamentary Answer on Overseas Assets on 7th July 1987.
Mr. Cohen Asked the Chancellor of the Exchequer if he will publish a table showing for each year since 1979 the total of United Kingdom-owned assets overseas, broken down by country and into figures for the public and private sectors.
Mr. Major Estimates of United Kingdom owned assets overseas are published in the annual Pink Book, “United Kingdom Balance of Payments”, copies of which are in the Library. The 1986 edition showed summary information in table 1.2 each year between 1966 and 1985, distinguishing public sector and private sector assets; further details are shown in section 9. Figures for end-1986 will be published in August and are expected to show total overseas assets net of liabilities of around £110 billion.
An analysis of total overseas assets by country is not available. However, details of the book value of direct investment assets analysed by country were published in an article in the 22 May 1987 issue of “British Business”. These figures are collected only every three years, the latest relating to end-1984. Also, information on United Kingdom banks’ overseas claims, by country, is published quarterly in table 14 of the Bank of England Quarterly Bulletin. Copies of these publications are in the Library.