The Rt. Hon. Sir John Major KG CH

Tag: 1988

  • Mr Major’s Written Parliamentary Answer on Economic Growth (Interest Rates) – 14 July 1988

    Below is the text of Mr Major’s written Parliamentary Answer on Economic Growth (Interest Rates) on 14th July 1988.

    Mr. Bellingham To ask the Chancellor of the Exchequer what is his assessment of the effect of the current instability of interest rates on investment in industry over the next year; and what assessment he has made of the effect this will have on the current level of economic growth in the United Kingdom.

    Mr. Major With interest rates close to their average levels for recent years, there is every sign that investment growth will be strong in 1988, as projected in the FSBR and the latest DTI investment intentions survey. This will contribute to the continuation of the strong and steady growth seen since 1981.

  • Mr Major’s Written Parliamentary Answer on Economic Growth – 14 July 1988

    Below is the text of Mr Major’s written Parliamentary Answer on Economic Growth on 14th July 1988.

    Mr. Oppenheim To ask the Chancellor of the Exchequer what is his forecast for economic growth in the United Kingdom in the next year.

    Mr. Major My right hon. Friend, the Chancellor of the Exchequer’s latest forecast was published at Budget time. It showed growth of 3 per cent. in whole economy output in 1988 equivalent to 3.5 per cent. growth on a non-oil basis. However, as my right hon. Friend reported to the House on 16 June at column 554 it now looks as though growth in 1988 may prove slightly higher than this.

  • Mr Major’s Written Parliamentary Answer on Personal Disposable Income – 14 July 1988

    Below is the text of Mr Major’s written Parliamentary Answer on Personal Disposable Income on 14th July 1988.

    Mr. Roger King To ask the Chancellor of the Exchequer what was the increase in real personal disposable income in the year to the first quarter of 1988.

    Mr. Major Real personal disposable income was 5.5 per cent. higher in the first quarter of 1988 than in the first quarter of 1987.

  • Mr Major’s Written Parliamentary Answer on Self-Employment – 14 July 1988

    Below is the text of Mr Major’s written Parliamentary Answer on Self-Employment on 14th July 1988.

    Mr. Burns To ask the Chancellor of the Exchequer what has been the increase in self-employment since 1979.

    Mr. Quentin Davies To ask the Chancellor of the Exchequer what has been the increase in self-employment since 1979.

    Mr. David Nicholson To ask the Chancellor of the Exchequer what has been the increase in self-employment since 1979.

    Mr. Major Since 1979 self-employment has increased by more than 1 million, or over 50 per cent., which is more than six times as much as in the previous 30 years.

  • Mr Major’s Written Parliamentary Answer on Productivity – 14 July 1988

    Below is the text of Mr Major’s written Parliamentary Answer on Productivity on 14th July 1988.

    Mr. Patrick Thompson To ask the Chancellor of the Exchequer what has been the average annual increase in the productivity of the whole United Kingdom economy since 1980.

    Mr. Major I refer my hon. Friend to the reply I gave earlier today to my hon. Friend the Member for Maidstone (Miss Widdecombe).

  • Mr Major’s Written Parliamentary Answer on the Economic Outlook – 14 July 1988

    Below is the text of Mr Major’s written Parliamentary Answer on the Economic Outlook on 14th July 1988.

    Mr. Knox To ask the Chancellor of the Exchequer if he will make a statement on the economic outlook for the remainder of the current financial year.

    Mr. Major The United Kingdom economy has achieved strong economic growth, low inflation and sound public finance. This combination is set to continue.

  • Mr Major’s Written Parliamentary Answer on Budget Strategy – 14 July 1988

    Below is the text of Mr Major’s written Parliamentary Answer on Budget Strategy on 14th July 1988.

    Mr. Madel To ask the Chancellor of the Exchequer what assessment he has made of the implications of the current rate of pay settlements for the implementation of his Budget strategy; and if he will make a statement.

    Mr. Major The Government’s policy of not accommodating domestic cost increases implies that excessive pay settlements are a threat to jobs rather than inflation over the medium term.

  • Mr Major’s Written Parliamentary Answer on Tax Cuts (Imports) – 14 July 1988

    Below is the text of Mr Major’s written Parliamentary Answer on Tax Cuts (Imports) on 14th July 1988.

    Dr. Moonie To ask the Chancellor of the Exchequer if he will estimate the impact of top rate tax cuts on imports.

    Ms. Short To ask the Chancellor of the Exchequer if he will estimate the impact of top rate tax cuts on imports.

    Mr. Major I refer the hon. Members to the answer my right hon. Friend the Paymaster General gave earlier today to the hon. Member for Tyne Bridge (Mr. Clelland).

  • Mr Major’s Written Parliamentary Answer on Balance of Payments – 14 July 1988

    Below is the text of Mr Major’s written Parliamentary Answer on Balance of Payments on 14th July 1988.

    Mr. Henderson To ask the Chancellor of the Exchequer if he will make a statement on the trend in the balance of payments.

    Mr. Lilley The current account deficit was £1.6 billion in 1987 and is estimated to be £4.7 billion so far in 1988.

    Mr. Harry Greenway To ask the Chancellor of the Exchequer what steps he is taking to improve the balance of payments position: and if he will make a statement.

    Mr. Campbell-Savours To ask the Chancellor of the Exchequer what steps he intends to take to bring about an improvement in Britain’s balance of payments performance.

    Mr. Radice To ask the Chancellor of the Exchequer what measures are being taken to improve the balance of payments.

    Mr. Major Policy will continue to be directed to defeating inflation and encouraging enterprise.

    Mr. Sedgemore To ask the Chancellor of the Exchequer what is the level of the current account deficit on the balance of payments that he now predicts for this financial year.

    Mr. Skinner To ask the Chancellor of the Exchequer what new estimates he has made for the balance of payments figures in 1988; and if he will make a statement.

    Mr. Mullin To ask the Chancellor of the Exchequer what is the level of the current account deficit on the balance of payments that he now predicts for this financial year.

    Mr. Cummings To ask the Chancellor of the Exchequer what level of current account deficit on balance of payments he now predicts for this financial year.

    Mr. Nigel Griffiths To ask the Chancellor of the Exchequer by how much he would now revise his Budget estimates of the likely outturn this year for the balance of payments.

    Mr. Andrew Smith To ask the Chancellor of the Exchequer what is his most recent estimate of the current account balance of payments for 1988 in (a) visible trade and (b) invisibles.

    Mr. Strang To ask the Chancellor of the Exchequer if, in the light of the most recent trade figures, he will revise his current estimate of the balance of payments deficit for 1988–89.

    Mr. Tony Lloyd To ask the Chancellor of the Exchequer if he will update his forecast for the 1988 current account deficit as given in the “Financial Statement and Budget Report 1988–89”.

    Mr. Cohen To ask the Chancellor of the Exchequer if he will give his latest estimate of the balance of payments for 1988–89.

    Mr. Major As my right hon. Friend the Chancellor of the Exchequer has already said, recent figures suggest that the current account deficit in 1988 may be larger than the £4 billion forecast at Budget time.

    Mr. Cousins To ask the Chancellor of the Exchequer what is his estimate of the impact of the measures announced in his Budget on the balance of payments.

    Mr. Patchett To ask the Chancellor of the Exchequer what is his forecast for the impact of his Budget income tax changes on the level of manufactured imports in the present year.

    Mr. Major I refer the hon. Members to the answer my right hon. Friend the Chancellor of the Exchequer gave on 12 May 1988 to the hon. Members for Newcastle upon Tyne, North (Mr. Henderson) and for Edinburgh, Central (Mr. Darling) at column 453.

    Mr. Wall To ask the Chancellor of the Exchequer what representations he has recently received about the level of the balance of payments deficit for the first few months of 1988.

    Mr. Major My right hon. Friend has received a number of representations on this, as on a number of subjects.

    Mr. Rooker To ask the Chancellor of the Exchequer what are the latest available figures in respect of the balance of payments; and what are the comparable figures for one and nine years ago.

    Mr. Major In the first five months of 1988 the current account deficit was £4.7 billion. In the same period a year ago, a surplus of £0.8 billion was recorded, while nine years ago a deficit of £0.6 billion was recorded.

    Mr. Wareing To ask the Chancellor of the Exchequer what action he intends to take in relation to the current balance of payments position.

    Mr. Wallace To ask the Chancellor of the Exchequer whether he proposes to take any measures to reduce the level of the balance of payments deficit.

    Mr. Major This Government will stick to firm monetary and fiscal policies. These, along with policies to encourage enterprise, will help to ensure continued economic prosperity. In particular, the current surge in domestic investment and lower tax rates will bring strong lasting benefit to United Kingdom trade performance.

  • Mr Major’s Written Parliamentary Answer on Manufacturing Investment – 14 July 1988

    Below is the text of Mr Major’s written Parliamentary Answer on Manufacturing Investment on 14th July 1988.

    Mr. Gerald Howarth To ask the Chancellor of the Exchequer if he will give the latest forecast for the growth of manufacturing investment in the United Kingdom in the current year.

    Mr. Watts To ask the Chancellor of the Exchequer if he will give the latest forecast for the growth of manufacturing investment in the United Kingdom in the current year.

    Mr. Major The June investment intentions survey from the DTI suggests that manufacturing investment will grow by 16 per cent. in 1988.