§ Mr. Gorstasked the Chancellor of the Exchequer what was the value in 1964 and 1968 of the present 25p.
§ Mr. NottTaking the value of 25p as relating to December 1972, the latest date for which information is available, its equivalent purchasing power in 1964 and 1968 is estimated to have been, on average, 39½p and 34p respectively. These
GOVERNMENT—INVISIBLE TRANSACTIONS ¼ million Services and transfers Interest Total Payments Receipts Net Payments Receipts Net Payments Receipts Net 1966 … 512 42 -470 145 48 -97 657 90 -567 1967 … 499 36 -463 146 49 -97 645 85 -560 1968 … 510 44 -466 207 31 -176 717 75 -642 1969 … 515 48 -467 255 30 -225 770 78 -692 1970 … 537 51 -486 214 55 -159 751 106 -645 1971 … 585† 55 -530t 197 88 -109 782 143 -639 1972* … 467 49 -418 163 120 -43 630 169 -461 *First three quarters. †Revised since publication of "United Kingdom Balance of Payments 1972". The make-up of service and transfer payments and receipts is shown in Tables 11 and 12 of "United Kingdom Balance of Payments 1972" (the "Pink Book"). Figures of long-term capital transactions by the Government are given in Tables 21 and 22 of that publication. Comparable figures for the first three quarters of 1972 are shown in Tables 9 and 11 of the December 1972 issue of "Economic Trends"; the March 1973 issue will contain figures for the whole of 1972.