Below is the text of Mr Major’s written Parliamentary Answer on Economic Statistics on 17th March 1988.
Mr. Barry Field To ask the Chancellor of the Exchequer (1) what steps he intends to take to improve the economic statistics published by his Department; (2) if he will list the measures taken to improve the accuracy of his Department’s economic statistics since 1981.
Mr. Major Steps are constantly being taken to improve Treasury statistics.
Below is the text of Mr Major’s written Parliamentary Answer on the Gross Domestic Product on 17th March 1988.
Mr. Barry Field To ask the Chancellor of the Exchequer when he last reviewed the allowance of 1.25 per cent. of the expenditure measure of gross domestic product to take account of(a) tax evasion and (b) self employment.
Mr. Major A “net allowance for evasion”, equal to 1.25 per cent. of the expenditure-based measure of gross domestic product (GDP) since 1981, is added to the income-based measure of GDP. This allowance represents the extent to which expenditures which are not concealed from statistical sources result in factor incomes (mainly of the self-employed) which are concealed. The allowance is necessary to ensure the conceptual equivalence of the two measures of GDP. The basis of the assessment, which is examined regularly, is described in “United Kingdom National Accounts: Sources and Methods” (paragraphs 3.32 to 3.36).
Below is the text of Mr Major’s written Parliamentary Answer on Manufacturing on 14th March 1988.
Mr. Meacher To ask the Chancellor of the Exchequer what information he has as to the annual average percentage increase in (i) gross domestic product at constant market prices, (ii) manufacturing output, (iii) wages per head in manufacturing, (iv) retail prices, (v) manufacturing productivity, (vi) manufacturing investment at constant prices, (vii) wages and salaries per unit of output in manufacturing, over the period 1983 to 1987 in(a) the United Kingdom, (b) the United States of America, (c) Germany, (d) France, (e) Japan, and (f) Sweden.
Mr. Major [holding answer 10 March 1988]: Data on (i) GDP (or GNP) at constant market prices are given in OECD Quarterly National Accounts. Data on (ii) manufacturing output and (iv) retail (consumer) prices are given monthly in OECD Main Economic Indicators. Data on (iii) wages per head in manufacturing are given monthly in the Employment Gazette. Data for (vi) manufacturing investment at constant prices are given in the OECD National Accounts (Volume II: Detailed Tables). Data for (v) manufacturing productivity can be calculated from the series for manufacturing output and employment given in the OECD Main Economic Indicators. Data on wages and salaries for unit of output are not published in any standard international source.
Below is the text of Mr Major’s written Parliamentary Answer on Rating Reform on 11th March 1988.
Dr. Cunningham To ask the Chancellor of the Exchequer when and in what form he plans to make announcements about future levels of the national non-domestic rate; and when he proposes to exercise his power, or indicate that he will not exercise his power, to set the national non-domestic rate multiplier under the proposed amendments to the Local Government Finance Bill.
Mr. Major [holding answer 10 March 1988]: Under provisions of the Local Government Finance Bill now before Parliament, the Government will, in 1990, set NNDR multipliers in England and Wales so as to produce the same yield of business rates in each country as if the rate poundages set by local authorities in 1989 had been indexed to the retail prices index and there had been no revaluation. In subsequent years, the presumption will be that indexation of the NNDR multipliers to the RPI provided for in the Bill will take place.
Equivalent provisions are already in the Abolition of Domestic Rates Etc. (Scotland) Act. If, however, I decide to use powers in the proposed amendments to increase the NNDR multipliers by less than the RPI in any year, an announcement would be made before the RSG reports for that year had been approved by Parliament.
Below is the text of Mr Major’s written Parliamentary Answer on Economic Prospects on 10th March 1988.
Mr. Bill Walker To ask the Chancellor of the Exchequer when he intends to meet the director general of the Confederation of British Industry to discuss the prospects for the economy.
Mr. Ian Bruce To ask the Chancellor of the Exchequer when he next intends to meet the director general of the Confederation of British Industry to discuss the prospects for the economy.
Mr. Patrick Thompson To ask the Chancellor of the Exchequer when he next intends to meet the director general of the Confederation of British Industry to discuss the prospects for the economy.
Mr. Fallon To ask the Chancellor of the Exchequer when he next intends to meet the director general of the Confederation of British Industry to discuss the prospects for the economy.
Mr. Major My right hon. Friend meets the director general of the Confederation of British Industry from time to time. But he has no specific plans to meet him in the foreseeable future.
Below is the text of Mr Major’s written Parliamentary Answer on Industrial Investment on 10th March 1988.
Mr. Nigel Griffiths To ask the Chancellor of the Exchequer what action he proposes to take to stimulate investment in British industry.
Dr. Moonie To ask the Chancellor of the Exchequer what action he proposes to take to stimulate investment in British industry.
Mr. Major The Government’s economic policies will continue to encourage capital investment by promoting an environment in which business can prosper.
Below is the text of Mr Major’s written Parliamentary Answer on the Gross Domestic Product on 10th March 1988.
Mr. Ashby To ask the Chancellor of the Exchequer what has been the growth of gross domestic product over the latest full year for which figures are available.
Mr. Hayward To ask the Chancellor of the Exchequer what has been the growth of gross domestic product over the latest full year for which figures are available.
Mr. Major We do not have estimates for the income and expenditure measures of GDP for the whole of 1987. In the first three quarters of 1987 the average measure of GDP was 4 per cent. higher than in the same period a year earlier.
Below is the text of Mr Major’s written Parliamentary Answer on Economic Growth on 10th March 1988.
Mr. Hanley To ask the Chancellor of the Exchequer what is his latest estimate of the growth in the non-oil economy in 1987.
Mr. Jacques Arnold To ask the Chancellor of the Exchequer what is his latest estimate of the growth in the non-oil economy in 1987.
Mr. Major Preliminary estimates suggest that non-oil output rose by over 5 per cent. in 1987 compared to 1986.
Below is the text of Mr Major’s written Parliamentary Answer on Balance of Payments on 10th March 1988.
Mr. Bill Michie To ask the Chancellor of the Exchequer if he will make a statement on his current estimates of the balance of payments for the United Kingdom in the present, and the next, financial years.
Mr. Major My right hon. Friend the Chancellor of the Exchequer will be making a forecast at Budget time.
Below is the text of Mr Major’s written Parliamentary Answer on Manufactured Goods and Services on 10th March 1988.
Ms. Armstrong To ask the Chancellor of the Exchequer if he has a revised figure for the anticipated balance of trade in (a) manufactured goods and (b) services for the United Kingdom for the current year; and what was the figure for 1979.
Mr. Major My right hon. Friend the Chancellor of the Exchequer will be making a new forecast for the current year at Budget time. In 1979 the balance of trade in manufactured goods showed a surplus of £2,698 million and services a surplus of £3,815 million.