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Growth

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 26th January 1989.

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Photo of Mr Nigel Lawson Mr Nigel Lawson The Chancellor of the Exchequer 12:00 am, 26th January 1989

I agree with what my hon. Friend says and I am sure that the quality of the hon. Member representing Stockton, South must have played some part in this excellent performance. Indeed, investment growing at something like more than double the rate of consumption in 1988 was no flash in the pan. During the whole of the period that I have been Chancellor of the Exchequer, investment has grown very nearly twice as fast as consumption. Indeed, going back to 1981, investment in this country has grown faster than in any other country of the European Community and faster, indeed, than in any other major industrial nation.