HC Deb 22 January 1963 vol 670 cc25-7
36. Mr. A. Lewis

asked the Chancellor of the Exchequer when the hon. Member for West Ham, North, can expect to receive the details of the answers to his Question on prices and costs; and when this is likely to be published in the OFFICIAL REPORT.

The Financial Secretary to the Treasury (Mr. Anthony Barber)

Today.

TABLE I
Item Percentage change since 1951 Notes
1961 1962
Purchasing power of £ sterling - 24 - 27 Based on the consumers' price index.
Index of retail prices* + 41 + 47
Registered unemployed + 34 + 83
National production + 28 + 27 Based on the gross domestic product at constant factor cost. 1962 figure relates to first half year, seasonally adjusted.
Terms of trade* - 24 - 26 1962 figure relates to first 11 months.
Company taxation + 10 n.a. United Kingdom taxes paid by companies and public corporations, after allowance for income tax deducted from payments of dividends and interest.
Income tax and surtax + 92 n.a. Payments by persons and unincorporated businesses.
Expenditure on local authority houses - 11 - 4 1962 figure relates to first half year.
Expenditure on private house building + 810 + 816 1962 figure relates to first half year.
National Insurance benefits These changes are based on the rates applicable in October, 1951
Unemployment or sickness
Single person + 121 + 121
Married couple + 120 + 120
Retirement pension
Single person + 92 + 92
Married couple + 85 + 85
National Insurance and Health contributions These changes are based on the rates applicable in October, 1951.
Adult male employee + 108 + 108 These changes are based on the flat rate contributions for persons not contracted out of the graduated pensions scheme compared with the rates payable in October, 1951.
Adult female employee + 117 + 117
Adult male employee + 139 + 139 These changes are based on the flat rate contributions for persons "contracted out" of the graduated pensions scheme.
Adult female employee + 138 + 138
* For each of these items it has been necessary to link series with different base dates and different weighting systems. The movements over the whole period are therefore only approximate.
Mr. Lewis

Why was it that before Christmas, in answer to a Question, I was given a promise that the figures would be published? Why has it taken until now for the figures to be given in HANSARD? Why could they not have been given earlier?

Mr. Barber

My right hon. Friend the Chief Secretary gave the undertaking that the necessary figures would be published, and they are being published today. What has happened is, I think, perfectly reasonable. The hon. Gentleman's Question appeared on the Order Paper on Saturday, 15th December. This left only three working days to provide an Answer which, as he will see, contains more than 50 figures covering more than 15 separate topics.

Following are the details:

Item Percentage change since 1951 Notes
1961 1962
Coal production - 15 - 11
Purchase tax + 51 + 65 Based on receipts by H.M. Customs & Excise.
Radio and television licence duty + 178 n.a. Receipts by the Post Office. Based on figures for financial years.
Income from rent + 149 n.a. Rental income from all types of property after deducting the cost of repairs and other expenses but before allowing for derecpiation. The imputed income from owner-occupied property is included.
Rates + 126 n.a. Receipts by local authorities.
TABLE II
Bank rate
8th November, 1951 … … … … … … 2½ per cent.
26th April, 1962 … … … … … … 4½ per cent.
8th November, 1951 8th December, 1962
Public Works Loan Board Interest rates
Loans due for repayment in
Not more than 5 years … … 2 5⅞
More than 5 years but not more than 15 years … … 3 5⅞
More than 15 years but not more than 30 years … … 3¾ 5⅞
More than 30 years … … 3¾ 5⅞
Balance of payments current account
1951 … … … … … … deficit of £365 million
1961 … … … … … … deficit of £77 million
1962 (first nine months) … … … … … … surplus of £51 million