HC Deb 09 June 1920 vol 130 c404
59. Mr. G. LOCKER-LAMPSON

asked the Lord Privy Seal whether the Finance Committee of the Cabinet has had laid before it any estimate of the national income?

Mr. BONAR LAW

As stated in the answer given by my right hon. Friend the Chancellor of the Exchequer to a question put to him by the hon. and gallant Member for East Newcastle on the 3rd instant, all estimates of total national income involve a considerable amount of guesswork. The Finance Committee of the Cabinet is not unacquainted with several such estimates, but, for the reason stated, the Treasury is not prepared to give official endorsement to any of them.

Mr. LOCKER-LAMPSON

Has the Finance Committee any idea of the proportion of the national income which goes in public expenditure?

Mr. BONAR LAW

Of course we have an idea, but, as my answer shows, any estimate of the national income must be largely guesswork.

Mr. LOCKER-LAMPSON

Can the right hon. Gentleman give the House the estimate made of the proportion?

Mr. BONAR LAW

They have been made by scores of economists, and they do not all agree.