The Rt. Hon. Sir John Major KG CH

Tag: 1989

  • Mr Major’s Written Parliamentary Answer on Borrowing – 8 February 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Borrowing on 8th February 1989.

    Mr. Warren To ask the Chancellor of the Exchequer if he will provide a breakdown from the latest available data of the major types of borrowers in the public and private sectors of the economy.

    Mr. Major Information on borrowing is given in the CSO’s monthly publication “Financial Statistics”, which is available in the Library of the House. Section 1 provides a unified set of financial data for all the main sectors of the economy. Subsequent sections give various breakdowns.

  • Mr Major’s Written Parliamentary Answer on Incomes, Profits and Rents – 7 February 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Incomes, Profits and Rents on 7th February 1989.

    Mr. Meacher To ask the Chancellor of the Exchequer what has been the level of (a) personal incomes, (b) company profits, (c) dividends and interest payments and (d) rents for each year since 1975; and what has been the percentage increase in each during each of these years.

    Mr. Major [holding answer 2 February 1989]: This information appears in the 1988 edition of the Central Statistical Office publication “United Kingdom National Accounts” which may be found in the House of Commons Library. The information may also be obtained from the CSO databank which is a collection of macroeconomic time series in computer readable form to which the House of Commons Library has direct access. This databank includes the latest versions of all series on it.

  • Mr Major’s Written Parliamentary Answer on Manufacturing Output – 6 February 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Manufacturing Output on 6th February 1989.

    Mr. Butterfill To ask the Chancellor of the Exchequer what is the current rate of manufacturing output in the United Kingdom for the last year for which figures are available; what were the comparable figures in the previous 12 month period; and if he will make a statement.

    Mr. Major Manufacturing output in the three months up to November 1988 was 7.2 per cent. higher than in the same period a year earlier. The comparable figure for the previous 12 months was 5.8 per cent. Manufacturing output reached its highest ever level during 1988. Over the last five years its annual growth rate has averaged 4 per cent. This is in stark contrast to the economy’s performance between 1974 and 1979 when it fell on average by ½ per cent. a year.

  • Mr Major’s Written Parliamentary Answer on Industrial Investment – 6 February 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Industrial Investment on 6th February 1989.

    Mr. Butterfill To ask the Chancellor of the Exchequer what was the volume of private sector investment in British industry for the last year for which figures are available, excluding leased assets; what were the comparable figures for the previous 12 month period; and if he will express both figures as a percentage of gross domestic product.

    Mr. Major The information requested is as follows:

    Industrial investment (1) | £ million at 1985 prices | as a percentage of GDP (2)
    1986 Q4–1987 Q3 26,357 8.1
    1987 Q4–1988 Q3 30,457 9.0

    1 Investment in the manufacturing, construction, distribution and financial industries.
    2 The average measure of GDP at factor cost.

    Sources:
    DTI capital expenditure press notice (15 December 1988).
    CSO gross domestic product press notice (19 December 1988).

  • Mr Major’s Written Parliamentary Answer on Fixed Capital Formation – 3 February 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Fixed Capital Formation on 3rd February 1989.

    Mr. Nigel Griffiths To ask the Chancellor of the Exchequer if he will give total gross domestic fixed capital formation for the United Kingdom at market prices as a percentage of GDP(E) at market prices for each year since 1959 to the most recent available date, together with the average for(a) 1974 to 1979 and (b) 1979 to 1987 inclusive.

    Mr. Major This information may be obtained from the Central Statistical Office databank, a collection of macroeconomic time series in computer readable form to which the House of Commons Library has direct access.

  • Mr Major’s Written Parliamentary Answer on Executive Agencies – 1 February 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Executive Agencies on 1st February 1989.

    Mr. Hayward To ask the Chancellor of the Exchequer whether the provisions of the Government Trading Funds Act 1973 will be applied to next steps executive agencies.

    Mr. Major Trading funds can already be created for agencies which meet the requirements in the Government Trading Funds Act 1973. However, some bodies including those which are directed by statute to provide a service and where the fees are fixed by regulation, are at present outside the scope of the 1973 Act. Some agencies which are at present outside its scope would be able to operate more efficiently under the more commercial regime. We therefore propose to bring forward legislation at the earliest opportunity so that trading or agency funds will be available in such cases. This change would add significantly to the range of financial regimes available to agencies and make a significant contribution to the implementation of the Government’s next steps policy.

  • Mr Major’s Written Parliamentary Answer on Tax and National Insurance Revenue – 27 January 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Tax and National Insurance Revenue on 27th January 1989.

    Mr. Ralph Howell To ask the Chancellor of the Exchequer what has been the overall revenue from taxation plus national insurance contribution in cash terms, real terms, and as a percentage of gross domestic product for each period of five years since 1959.

    Mr. Major The available information is as follows:

    Total revenue from taxation plus national insurance contributions in current prices, real terms and as a percentage of GDP

    Five year averages £ billion | Total taxes and NICs (current prices – prices prevailing at the time) | Total taxes and NICs in real terms (1987–88 prices) | Total taxes and NICs as a per cent. of GDP
    1963–64 to 1967–68 11.4 81.1 31.1
    1968–69 to 1972–73 19.0 103.9 34.9
    1973–74 to 1977–78 39.1 117.1 35.2
    1978–79 to 1982–83 86.0 131.7 37.0
    1983–84 to 1987–88 139.2 152.2 38.4

    Source: CSO, Financial Statistics Economic Trends.

  • Mr Major’s Written Parliamentary Answer on Labour Statistics – 26 January 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Labour Statistics on 26th January 1989.

    Mr. William Powell To ask the Chancellor of the Exchequer in which regions adult unemployment has fallen over the past year.

    Mr. Burt To ask the Chancellor of the Exchequer in which regions adult unemployment has fallen over the past year.

    Mr. Major Adult unemployment has fallen sharply in every region of the United Kingdom over the last year, but fastest in the west midlands, the north west and Wales.

    Mr. Michael Brown To ask the Chancellor of the Exchequer what has been the fall in the number of long-term unemployed aged 18 to 24 years since October 1986.

    Mr. Gerald Bowden To ask the Chancellor of the Exchequer what has been the fall in the number of long-term unemployed aged 18 to 24 years since October 1986.

    Mr. Andy Stewart To ask the Chancellor of the Exchequer what has been the fall in the number of long-term unemployed aged 18 to 24 years since October 1986.

    Mr. Major The latest available figures, for October 1988, show that the number of long-term unemployed aged between 18 and 24 has fallen by one half since October 1986.

  • Mr Major’s Written Parliamentary Answer on Income Statistics – 26 January 1989

    Below is the text of Mr Major’s written Parliamentary Answer on Income Statistics on 26th January 1989.

    Mr. Wallace To ask the Chancellor of the Exchequer if there are any plans to change the system of collation of national income statistics.

    Mr. Major The CSO are always looking for ways to improve the accuracy and completeness of the national accounts. The Government established last summer a review to make recommendations for cost-effective improvements. It has now been completed and a comprehensive report will be published in due course.

  • Mr Major’s Parliamentary Answer on Manufacturing Investment – 26 January 1989

    Below is the text of Mr Major’s response on Manufacturing Investment, made on 26th January 1989 in the House of Commons.

    Mr. Key To ask the Chancellor of the Exchequer what is his latest information on the investment intentions of manufacturing industry.

    Mr. Anthony Coombs To ask the Chancellor of the Exchequer what is his latest information on the investment intentions of manufacturing industry.

    Mr. Major The Department of Trade and Industry’s investment intentions survey published in December showed that manufacturing investment is expected to grow by 11 per cent. in 1989.

    Mr. Key Does not that reply indicate that manufacturing industry understands far better than the Opposition the opportunities generated in the economy by this Government? Can my right hon. Friend say by how much manufacturing investment has grown over the past five years or so?

    Mr. Major My hon. Friend is entirely correct. Manufacturing investment in real terms reached an all-time peak in the second quarter of 1988, and is expected to increase substantially next year.

    Mr. Anthony Coombs I welcome the buoyancy of manufacturing investment intentions, especially as last year there was the largest increase in manufacturing investment for 25 years. Is my right hon. Friend aware of a recent survey on industrial space take – up throughout the country which indicated that more than one third of the total industrial space taken up last year was in the West Midlands? Does not that show clearly and unequivocally how geographically broadly based the economic expansion of this country has become?

    Mr. Major Indeed it does, as does the fact that unemployment has fallen in all the regions in the past 29 months. The last CBI survey shows clearly that investment intentions remain strong for the future.

    Mr. Win Griffiths Is the Minister aware that, despite high investment in industry, the CBI survey pointed out that, for the first time for three years, more exporters are gloomy about prospects than before, and that in Wales more than one in three manufacturers who export are reporting reductions in their orders because of the high interest rate policy? Are we not suffering because of the Chancellor’s desire to give money hand over fist to the wealthy?

    Mr. Major Manufacturers in Wales and elsewhere recognise clearly that renewed inflation is far more damaging to them than is the medicine necessary to ensure no renewed inflation.

    As regards the CBI survey, the hon. Gentleman quoted very selectively. The CBI said quite clearly that the figures indicate that strong manufacturing investment is set to continue.