§ 29. Mr. Alan Howarth
asked the Chancellor of the Exchequer how the level of, and return on, investment in the United Kingdom compare with other countries.
§ Mr. Ian Stewart
Over the period 1974–81, total United Kingdom investment averaged 18.2 per cent. of628W GDP, compared to 21.6 per cent. in the major OECD countries as a whole; equivalent figures for investment in machinery and equipment were 8.8 per cent. and 8.7 per cent. Figures comparing rates of return are available only on an imcomplete basis, but they show returns in the United Kingdom below those in almost all other countries. For example, in the period 1976–80, rates of return in United Kingdom non-financial corporations averaged 6 per cent., compared to 14 per cent. in the USA and 9 per cent. in France; rates of return in United Kingdom manufacturing industry averaged 6 per cent., compared to 18 per cent. in USA and 16 per cent. in Germany.