1987-1990 - Mr Major’s Written Parliamentary Answer on Job Creation
Below is the text of Mr Major's written Parliamentary Answer on Job Creation on 28th October 1987.
Mr. Cohen Asked the Chancellor of the Exchequer what is his estimate of jobs created for the expenditure of £1 billion in (i) defence spending, (ii) public transport, (iii) construction, (iv) health and (v) education.
Mr. Major Irrespective of composition, higher overall public expenditure is unlikely to have any lasting beneficial effect on the level of employment for the economy as a whole. Estimates of the short-run effects are unreliable because they depend critically on the economic model and the underlying assumptions that are used.