Below is the text of Mr Major’s written Parliamentary Answer on Manufacturing (Fiscal Incentives) on 10th March 1988.
Mr. Strang To ask the Chancellor of the Exchequer if he is satisfied with the operation of the current system of fiscal incentives for investment in manufacturing industry.
Mr. Major The current fiscal regime has created a climate which encouraged an increase of 3.5 per cent. in manufacturing investment in 1987, and manufacturing investment is projected to grow by 11 per cent. in 1988 in the Department of Trade and Industry’s latest investment intentions survey.