§ THE EARL OF LAUDERDALE
asked Her Majesty's Government:
What percentage growth rate is foreseen in the economies of the United Kingdom and of the present E.E.C. members respectively over the next five and ten years.
It is not the practice of Her Majesty's Government to publish an official forecast of the growth of the U.K. economy in the medium term. But there is no reason why output should not increase at a rate substantially above that of recent years for a considerable period ahead, provided that the development of wages and prices is satisfactory and our competitiveness in international markets is maintained. Estimates of the medium-term growth of output in present E.E.C. member countries were published by the O.E.C.D.* in December, 1970, and were as follows:—
Percentage changes, annual rates 1970–75 1970–80 Germany 4.6 4.6 France … 5.9 6.0 Italy … 5.5 5.6 Netherlands 4.7 4.6 Belgium… 4.8 4.7
Source: O.E.C.D. Growth of output 1960–80.