Tag: 1989

Below is the text of Mr Major’s written Parliamentary Answer on Balance of Trade (Manufactures) on 8th June 1989.

Mr. Fatchett To ask the Chancellor of the Exchequer what is his latest forecast of the balance of trade in manufactures in 1989.

Mr. Barron To ask the Chancellor of the Exchequer what is his latest forecast of the balance of trade in manufactures in 1989.

Mr. Vaz To ask the Chancellor of the Exchequer what is his latest forecast of the balance of trade in manufactures in 1989.

Mr. Allen McKay To ask the Chancellor of the Exchequer what is his latest forecast of the balance of trade in manufactures in 1989.

Mr. Major The Financial Statement and Budget Report for 1989–90 shows a forecast deficit for trade in manufactures in 1989 of £15.5 billion.

Below is the text of Mr Major’s written Parliamentary Answer on the Balanced Budget on 8th June 1989.

Mr. Patnick To ask the Chancellor of the Exchequer when, on present trends, a balanced Budget will be achieved; and when was the last occasion a balanced Budget was achieved.

Mr. Major The Government intend to move gradually from the present surplus towards a balanced budget over the medium term. The PSBR has been in surplus in each of the last two years, something achieved in only one previous year since the beginning of the 1950s. In all other years, the PSBR has been in deficit.

Below is the text of Mr Major’s written Parliamentary Answer on the Public Expenditure Survey on 8th June 1989.

Mr. Worthington To ask the Chancellor of the Exchequer what are his priorities in the forthcoming public expenditure survey.

Dr. Moonie To ask the Chancellor of the Exchequer what are his priorities in the forthcoming public expenditure survey.

Dr. Reid To ask the Chancellor of the Exchequer what are his priorities in the forthcoming public expenditure survey.

Mr. Major The public expenditure survey will be carried out within the framework of the Government’s objective for public expenditure. This is to maintain a downward trend over the medium term in the ratio of general Government expenditure to GDP.

Below is the text of Mr Major’s written Parliamentary Answer on North Sea Oil on 8th June 1989.

Mr. Flannery To ask the Chancellor of the Exchequer what is the total amount of money received by the Exchequer from North sea oil since May 1979.

Mr. Major Total tax revenues and royalties to United Kingdom oil and gas production over the fiscal years 1979–80 to 1988–89 are estimated at £65.2 billion. Receipts from the gas levy over the same period amounted to a further £3.8 billion. Further details are contained in the report by the Secretary of State for Energy to Parliament of April 1989 (the Brown Book).

Below is the text of Mr Major’s written Parliamentary Answer on Government Expenditure on 8th June 1989.

Mr. David Evans To ask the Chancellor of the Exchequer what was the amount of central Government expenditure in 1988–89 expressed as a percentage of money gross domestic product; and what were the comparable figures for the previous five years.

Mr. Major The latest available information on the percentage of money GDP at market prices accounted for by central Government expenditure is given in the table. The central Government figures on which the percentages are based exclude privatisation proceeds and grants to local authorities but include debt interest payments.

Year | Per cent.
1983–84 34.00
1984–85 34.50
1985–86 33.50
1986–87 33.00
1987–88 31.25

(1) 1988–89 2900
(1) April-December only.

Mr. David Davis To ask the Chancellor of the Exchequer what has been the fall in general Government expenditure as a share of gross domestic product since 1982–83.

Mr. Jacques Arnold To ask the Chancellor of the Exchequer what has been the fall in general Government expenditure as a share of gross domestic product since 1982–83.

Mr. Redwood To ask the Chancellor of the Exchequer what has been the fall in general Government expenditure as a share of gross domestic product since 1982–83.

Mr. Major The 1989 Financial Statement and Budget Report gave a figure of 39.5 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 46.25 per cent.

Below is the text of Mr Major’s written Parliamentary Answer on Business Start-Ups on 8th June 1989.

Mr. Burt To ask the Chancellor of the Exchequer what is his latest estimate of the number of business start-ups in 1988–89.

Dr. Twinn To ask the Chancellor of the Exchequer what is his latest estimate of the number of business start-ups in 1988–89.

Dr. Goodson-Wickes To ask the Chancellor of the Exchequer what is his latest estimate of the number of business start-ups in 1988–89.

Mr. Major In the calendar year 1987, the latest for which figures have been published by the Department of Employment, the net increase in the number of businesses registered for VAT was 45,000, an average of nearly 900 a week. Indications are that the rate of increase since 1987 has been even faster, and may have amounted to over 1,300 per week. The figures for 1988 will be available later in the summer.

Below is the text of Mr Major’s written Parliamentary Answer on Interest Rates on 8th June 1989.

Mr. Cryer To ask the Chancellor of the Exchequer if he will make a statement on the impact of current level of interest rates on the development of manufacturing industry.

Mr. Major Manufacturing investment reached a record level in 1988 and the outlook is for continued strong growth.

Below is the text of Mr Major’s written Parliamentary Answer on Foreign Investment on 8th June 1989.

Mr. Battle To ask the Chancellor of the Exchequer what was the net flow of foreign direct and portfolio investment into the United Kingdom in 1988.

Mr. Major Direct and portfolio investment in the United Kingdom by overseas residents (net of disinvestment) is provisionally estimated at £11.2 billion in 1988.