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Budget Resolutions and Economic Situation

Business investment has grown on average by 5 per cent. a year since 1997, compared with a growth of 3.4 per cent. in the previous 10 years. It was worth £77 billion in 1996, but is now worth £113 billion, and it will rise to £126 billion by 2008. Yes, I am concerned about the closure of chemistry departments—I think that that happened at Sussex—but the hon. Gentleman and I know that universities are independent. If he looks around the university world, he will see good stories from other universities throughout the country.