§ Mr. Bruce-Gardyneasked the Chancellor of the Exchequer what estimate he has made of the growth in the money supply during 1968 to the latest available date, as compared with the growth of money supply during the corresponding period of 1967, absolutely, as a percentage of gross national product and at constant prices, respectively.
§ Mr. TaverneThe money supply rose by £481 million after seasonal adjustment. or 3.2 per cent., during the first half of 1968. The latest estimates suggest that in that period G.N.P. was 2½ per cent. higher, and G.N.P. at constant prices 1½ per cent. higher, than in the previous six months. In the corresponding period of 1967, the money supply rose by £489 million after seasonal adjustment, or 3.7 per cent.; G.N.P. by 3 per cent.; and G.N.P. at constant prices by ½ per cent. I hope that I have interpreted the hon. Member's Question correctly.