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Manufacturing Investment

Volume 164: debated on Monday 8 January 1990

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To ask the Secretary of State for Trade and Industry if he will make a statement on levels of investment in manufacturing industry in the last decade.

I have been asked to reply.The most recent full year for which information is available is 1988. Manufacturing investment at 1985 prices including leased assets, is estimated to have been £11·3 billion in 1988, compared to £10·7 billion in 1978. The 1988 figure is the highest recorded and amounts to an average growth rate of 8¼ per cent. a year from the 1983 level. Under the last Labour Government, manufacturing investment grew by less than 2= per cent. a year averaged over the whole period of office.