§ Mr. Ernie Ross
asked the Secretary of State for Industry how the level of investment per worker in British manufacturing industry compares with (a) each EEC country, (b) the United States of America and (c) Japan in each of the past five years.
§ Mr. MacGregor
The information is as follows:
Cross Fixed Capital Formation Per Employee in Manufacturing Industry 1976–1980 £* 1976 1977 1978 1979 1980 United Kingdom 540 660 790 920 1,020 Belgium 1,310 1,320 1,470 n/a n/a Denmark n/a n/a n/a n/a n/a France† 1,760 1,900 n/a n/a n/a Germany 1,140 n/a n/a n/a n/a Greece n/a 1,160 1,210 n/a n/a Ireland 930 n/a n/a n/a n/a Italy‡ 940 1,050 1,060 n/a n/a Luxembourg 1,060 2,170 n/a n/a n/a Netherlands** 1,660 2,340 2,610 n/a n/a USA†† 1,140 1,320 1,290 n/a n/a Japan 1,260 n/a n/a n/a n/a n/a = not available * The national currencies have been converted to £ sterling by means of the average exchange rate for the appropriate year. † Includes mining and quarrying, electricity, gas and water. ‡ Includes mining and quarrying, electricity, gas and water and construction. ** Includes petroleum and natural gas. †† Revised figures.
Sources: National Accounts of OECD Countries 1961–1978 Vol. II.
UN Yearbook of National Accounts Statistics 1979
Labour Force Statistics 1968–1979 OECD.
Exchange rates do not necessarily reflect the purchasing power of national currencies in terms of the goods and services available in the countries being compared. The use of purchasing power parities would provide a better comparison but they are not available for all the countries listed.
The investment figures are on the basis of ownership, rather than usage, and so do not include assets leased to manufacturers from other sectors of the economy.