Economy: Purchasing Managers’ Index

Lord Borwick Excerpts

Thursday 11th April 2019 Lords Chamber

Asked by

[Lord Borwick]

To ask Her Majesty’s Government what assessment they have made of the Purchasing Managers’ Index figure of 55.1 for the United Kingdom published on 1 April and the comparative performance in Germany.

[Lord Borwick (Con)]

My Lords, declaring my interests in the register as a manufacturer, I beg leave to ask the Question standing in my name on the Order Paper.

[The Minister of State, Department for International Development (Lord Bates) (Con)]

My Lords, the manufacturing purchasing managers’ index stands at 55.1, and has been above 50—indicating an expansion in activity—for 32 consecutive months, supported recently in part by strength in inventory accumulation. Meanwhile, the comparable reading for Germany has fallen into contractionary territory in 2019 at 44.1.

[Lord Borwick]

I thank my noble friend for his Answer and agree that many small companies are doing very well indeed. The PMI, which is a forward-looking index, backs up the excellent GDP and Treasury figures to suggest that the UK economy is thriving. There are always economists who practise the dismal science and who will predict doom and search for a dark cloud wherever they find a silver lining. Does my noble friend have any other ideas to cheer them up?

[Lord Bates]

I am sure that those who forecast a figure of zero for GDP in February and then found out it was 0.2% might be a little cheered up this morning. On other reasons to be cheerful, what about the fact that unemployment, debt and taxes are all falling while exports, growth, GDP and real wages are all rising?

Air Pollution

Lord Borwick Excerpts

Monday 3rd November 2014 Lords Chamber

[Baroness Northover]

The noble Lord had better refer his question directly to the mayor. He will know that the mayor has introduced a wide range of measures and is consulting on a number that are in the pipeline. We are also constantly reviewing the effects of the various proposals, and I am sure that the point that the noble Lord has made will be looked at as well.

[Lord Borwick (Con)]

My Lords, I declare my interest as a trustee of the British Lung Foundation. Does the Minister agree that there is a regrettable lack of research into the detailed effects of air pollution on the lungs of Londoners?

[Baroness Northover]

My noble friend makes a good point, and this is something that Public Health England is taking up. We work very closely with the Department of Health and Public Health England. It is extremely important that we encourage research into the effect of pollutants.