Tag: 1988

Below is the text of Mr Major’s written Parliamentary Answer on Labour Statistics on 10th March 1988.

Mr. Sumberg To ask the Chancellor of the Exchequer in how many regions adult unemployment has fallen over the past year.

Miss Emma Nicholson To ask the Chancellor of the Exchequer in how many regions adult unemployment has fallen over the past year.

Mr. Wolfson To ask the Chancellor of the Exchequer in how many regions adult unemployment has fallen over the past year.

Mr. Major Over the past year, unemployment has fallen in all regions of the United Kingdom.

Mr. Couchman To ask the Chancellor of the Exchequer for how many successive quarters total employment in the British economy has risen.

Mr. Major Employment in Great Britain has risen for 18 successive quarters since March 1983, the longest period of continuous employment growth for nearly 30 years, and by over 1.5 million in total.

Below is the text of Mr Major’s written Parliamentary Answer on Investment Statistics on 10th March 1988.

Mrs. Clwyd To ask the Chancellor of the Exchequer what are the latest figures that he has for the current level of investment in (a) manufacturing industry and (b) the service sector.

Mr. Major Investment in manufacturing in 1987 is provisionally estimated to be 3.5 per cent. higher than in 1986. Investment in the construction, distribution and financial industries is estimated to be 10 per cent. higher in 1987 than a year earlier. For these industries as a whole the volume of investment in 1987 was the highest level yet recorded.

Below is the text of Mr Major’s written Parliamentary Answer on Public Expenditure on 10th March 1988.

Mr. Watts To ask the Chancellor of the Exchequer how much general Government expenditure as a percentage of gross domestic product has fallen since 1982–83.

Mr. Soames To ask the Chancellor of the Exchequer how much general Government expenditure as a percentage of gross domestic product has fallen since 1982–83.

Mr. Major The 1988 public expenditure White Paper (Cm. 288) showed that general Government expenditure (excluding privatisation proceeds) as a percentage of gross domestic product has fallen from 46.25 per cent. in 1982–83 to 42.5 per cent. in 1987–88.

Mr. Beith To ask the Chancellor of the Exchequer what is the objective of his policy of reducing public expenditure annually as a proportion of gross domestic product.

Mr. Major Our policy of reducing public spending as a proportion of GDP over the medium term, which does not imply particular targets for individual years, will enable a low level of borrowing to be combined with reductions in the burden of taxation, thus encouraging enterprise and efficiency and the growth of output and employment.

Below is the text of Mr Major’s written Parliamentary Answer on Invisible Earnings on 10th March 1988.

Mr. Wood To ask the Chancellor of the Exchequer if he will make a statement on the balance of invisible earnings.

Mr. Sackville To ask the Chancellor of the Exchequer if he will make a statement on the balance of trade in invisible earnings.

Mr. Quentin Davies To ask the Chancellor of the Exchequer if he will make a statement on the balance of trade in invisible earnings.

Mr. Major The United Kingdom’s net invisible earnings remain in very substantial surplus.

Below is the text of Mr Major’s written Parliamentary Answer on Exports and Imports on 10th March 1988.

Mr. Fatchett To ask the Chancellor of the Exchequer what was the growth in the volume of United Kingdom exports in the last financial year; what was the growth in the volume of imports; and what was the effect on the balance of payments.

Mr. Major In the financial year 1986–87 the volume of exports of goods grew by 6.5 per cent. on the previous year while the volume of imports of goods grew by 8.5 per cent. The current account of the balance of payments moved from a surplus of £3.8 billion in 1985–86 to a deficit of £1.1 billion in 1986–87.

Below is the text of Mr Major’s written Parliamentary Answer on Personal Borrowing on 10th March 1988.

Mr. McFall To ask the Chancellor of the Exchequer what is his current estimate of the level of personal sector borrowing; and what it was in real terms in the previous five years.

Mr. Major In the third quarter of 1987 total personal sector borrowing is provisionally estimated to have been £11,008 million. No figures are published for borrowing in real terms.

Below is the text of Mr Major’s written Parliamentary Answer on Economic Forecasts on 10th March 1988.

Mr. Tim Smith To ask the Chancellor of the Exchequer what assessment he makes of the accuracy of his own and other economic forecasts.

Mr. Major Treasury forecasts always include an analysis of errors on past Forecasts. The accuracy of Treasury forecasts compares favourably with other economic forecasts.

Below is the text of Mr Major’s written Parliamentary Answer on the Manufacturing Industry on 9th March 1988.

Dr. Reid To ask the Chancellor of the Exchequer what he estimates will be the deficit in manufactured trade in 1988; and what percentage change this represents on the 1987 figure.

Mr. Major My right hon. Friend will be making a new forecast at Budget time.

Below is the text of Mr Major’s written Parliamentary Answer on Balance of Payments on 4th March 1988.

Mr. Tony Lloyd To ask the Chancellor of the Exchequer what is his latest estimate of the balance of payments for the United Kingdom in 1988–89.

Mr. Major My right hon. Friend the Chancellor of the Exchequer will be making a new forecast at Budget time.

Below is the text of Mr Major’s written Parliamentary Answer on Manufactured Goods and Services on 4th March 1988.

Mr. McFall 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 will be making a 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.