§ 22. Mr. Biffenasked the First Secretary of State and Secretary of State for Economic Affairs by what amount the gross domestic product at constant prices increased during 1965; by what amount it is expected to increase during 1966; and what annual rate of increase is necessary to sustain an incomes norm of annual increases of between 3 and 3½ per cent. consistent with the objects of the prices and incomes policy.
§ The Minister of State, Department of Economic Affairs (Mr. Austen Albu)The latest figures for the gross domestic product at constant prices in 1965 show an increase over 1964 of about 2½ per cent. It would not be appropriate for me to forecast the expected increase during 1966. I would refer the hon. Member to paragraphs 3, 4 and 11 of the White Paper on Prices and Incomes Policy for an answer to the last part of his Question.
§ Mr. BiffenWhy would it not be appropriate to say what is the expected increase in the gross domestic product for the current year?
§ Mr. AlbuA good deal of information has already been published. It is not customary for the Government to give short-term forecasts of the likely movement of the economy.
§ Mr. MaudlingI do not think that the Minister has quite answered my hon. Friend's question. The Minister was asked to state the increase in the gross domestic product during 1965. He gave the contrast in 1965 with the whole of 1964, which is quite a different point.
§ Mr. AlbuI think that the figure will probably be slightly higher, but no doubt if the hon. Gentleman puts down another Question I shall try to answer him again.
§ Mr. BiffenIn view of the unsatisfactory nature of the reply, I beg to give notice that I shall raise the matter on the Adjournment.