The total spent on fixed investment, before making any deduction for depreciation of the existing capital stock. This is contrasted with net fixed investment, which is gross fixed investment minus an estimate of capital consumption. The figures for gross fixed investment are relatively reliable, as it is mainly carried out via observable market transactions, whereas capital consumption and thus net fixed investment are estimates, not based on observing market transactions.

• partnership
• part-time work
• par value
• patent
• paternalism
• pay
• pay as you earn
• pay-as-you-go pensions
• pay-back period
• pay control
• PAYE
• pay freeze
• payments, balance of
• payment, side-
• payments in kind
• payments union
• pay-off matrix
• payroll
• payroll tax
• peace dividend
• peak
• peak-load pricing
• peg, adjustable
• pendulum arbitration
• penetration, import