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Manufacturing Investment

Volume 115: debated on Wednesday 29 April 1987

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asked the Secretary of State for Trade and Industry what is his latest estimate of the fall in the real value of manufacturing investment in the north since 1979.

When the world recession hit a sector suffering from poor competitiveness, resulting from years of high inflation, low productivity growth and poor rates of return on investment, there was a sharp fall in manufacturing investment, which continued up to 1982. Since that date, with industry becoming more competitive and better adapted to the demands of a modern economy, investment in the north has steadily increased. Excluding leased assets, for which no regional data are available, manufacturing investment in the north fell from £613 million in 1979 to £256 million in 1982 and rose to £403 million in 1985 at 1979 prices.