Finance: Investment

House of Lords written question – answered on 27th March 2014.

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Photo of Lord Barnett Lord Barnett Labour

To ask Her Majesty’s Government what changes they have made in the proportion of national income devoted to investment.

Photo of Lord Deighton Lord Deighton The Commercial Secretary to the Treasury

The Office for Budget Responsibility published its forecast for Public Sector Gross Investment as a per cent of GDP in table 4.12 of the March 2014 Economic and Fiscal Outlook.

The Government is going to be investing more as a share of GDP on average over this parliament — and over this whole decade — than over the whole period of the last government.

At Autumn Statement 2011 and Autumn Statement 2012, the Government increased its capital spending plans by £10 billion, funded through permanent reductions in wasteful spending. At Budget 2013 the Government committed to make those increases permanent — raising capital spending plans by £3 billion per annum.

Autumn Statement 2013 set out that from 2018-19 Public Sector Gross Investment (PSGI) will increase in line with GDP.

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