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Manufacturing Industry

Volume 114: debated on Wednesday 8 April 1987

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asked the Chancellor of the Exchequer what has been the level of investment, capital consumption and net investment each year in manufacturing industry since 1970.

[pursuant to his reply, 3 April 1987, c. 629]:Figures of gross domestic fixed capital formation, capital consumption and net domestic fixed capital

Gains (£ per week), net of indexation, from the main income tax proposals1 in all Budgets from 1979 to 1987, at 1987–88 income levels
Multiples of Average Earnings2
½¾11½2510
Single Person (Non-aged)
change in:—
basic rate34·037·4310·8417·6520·6520·6520·65
personal allowances2·352·352·352·353·565·915·91
reduced rate band-2·46-2·46-2·46-2·46-2·46-2·46-2·46
higher rates and thresholds2·62100·90362·30
Total43·917·3110·7317·5425·21131·05392·45
Married man (Non-aged)
change in:—
basic rate 32·445·859·2616·0820·6520·6520·65
personal allowances3·743·743·743·745·119·429·42
reduced rate band-2·46-2·46-2·46-2·46-2·46-2·46-2·46
higher rates and thresholds2·62100·90362·30
Total 43·727·1410·5417·3625·92128·51389·90
1 Excluding abolition of investment income surcharge.
2 Full time adult males (all occupations) forecast earnings for 1987–88 £227·30 per week.
3 Assuming changes to personal allowances, the reduced rate bands and the higher rate thresholds are made first.
4 The sum of the component changes may vary by a penny from the total change given due to rounding.
Gains (£ per week) from the main income tax proposals in the 1987 Budget
Multiples of Average Earnings1
½¾11½2510
Single Person (Non-aged)
Current Prices: change in

formation for manufacturing industries are given in the table. These figures do not include capital goods leased to manufacturers from financial lessors. Figures of capital consumption and net domestic fixed capital formation in 1986 are not yet available.

Acquisition and consumption of fixed assets by manufacturing industries
£ million
Gross domestic fixed capital formationCapital consumptionNet domestic fixed capital formation
19702,0891,188901
19712,1021,375727
19721,9681,534434
19732,3561,759597
19743,0622,170892
19753,4582,771687
19763,9103,369541
19774,7303,996734
19785,6244,5911,033
19796,5155,2721,243
19806,4786,241237
19815,3186,854-1,536
19825,4807,302-1,822
19835,8547,664-1,810
19847,3418,016-675
19857,9508,601-651
19868,334n.a.n.a.
n.a. = not available.