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Mr. Tebbit
asked the Chancellor of the Exchequer if he will list for every year since 1945 the level of manufacturing investment, expressed (a) in real terms to take account of inflation and (b) as a percentage of gross domestic product.
Mr. Denzil Davies
Following is the available information:
GROSS DOMESTIC FIXED CAPITAL FORMATION BY MANUFACTURING INDUSTRY | ||
At 1970 prices £ million | At current prices Per cent of GDP at market prices | |
1948 | n.a. | 2·7 |
1949 | n.a. | 3·0 |
1950 | n.a. | 3·4 |
1951 | n.a. | 3·6 |
1952 | n.a. | 3·5 |
1953 | n.a. | 3·3 |
1954 | n.a. | 3·3 |
1955 | 1,111 | 3·6 |
1956 | 1,282 | 4·0 |
1957 | 1,358 | 4·2 |
1958 | 1,289 | 4·0 |
1959 | 1,231 | 3·6 |
1960 | 1,436 | 4·0 |
1961 | 1,706 | 4·6 |
1962 | 1,575 | 4·1 |
1963 | 1,381 | 3·5 |
1964 | 1,561 | 3·7 |
1965 | 1,726 | 4·0 |
1966 | 1,774 | 4·0 |
1967 | 1,738 | 3·7 |
1968* | 1,800 | 3·8 |
1969* | 2,029 | 3·9 |
1970 | 2,130 | 4·2 |
1971 | 1,988 | 3·8 |
1972 | 1,721 | 3·2 |
1973 | 1,730 | 3·2 |
1974 | 1,964 | 3·8 |
1975 | 1,695 | 3·4 |
1976 | 1,633 | 3·2 |
1977 | 1,764 | 3·5 |
*The figures for 1968 and 1969 have been adjusted to transfer from 1968 to 1969 capital expenditure brought forward to secure the higher rate of investment grant operating up to 31st December 1968. |