asked the Minister for Finance if he will estimate gross fixed capital formation as a percentage of GNP from 1973 to 1982, with an estimate for 1983.

10.

asked the Minister for Finance if he will estimate the percentage share of public investment in gross fixed capital formation from 1973 to 1982, with an estimate for 1983.

It is proposed to take Questions Nos. 9 and 10 together.

The reply takes the form of a tabular statement which I propose to circulate in the Official Report.

Percentage share of gross fixed capital formation in GNP 1973-1982.

Notes:

(i) The data for 1973 to 1981 are derived from the National Income and Expenditure Tables. Those for 1982 are based on estimates prepared in the Department of Finance and are subject to revision.

(ii) The figures are calculated at current market prices.

Percentage share of PCP in Gross Fixed Capital Formation.

Does this now show that investment as a proportion of total expenditure is falling, as happened in the mid-1970s, showing a very undesirable trend?

I am not sure I understand the drift of the Deputy's question. His questions relate to gross fixed capital formation as a percentage of GNP and the proportion of public capital investment to the total. On that, there is not an even trend over the whole period. I am not sure that the conclusion the Deputy wants to draw can be inferred from that information.

The suggestion is that the level of investment as a proportion of total expenditure dropped during the mid-1970s and is dropping now. That is the suggestion and I think the figures indicate that.

The Deputy is now talking about the level of investment as a proportion of total expenditure, which is not the subject matter of his questions.

I am calling Question No. 11.