§ Mr. Dixonasked the Chancellor of the Exchequer what has been the increase in the money supply, taking the narrow definition of M1, in the latest 12-month period for which figures are available, in each of the EEC countries.
§ Mr. Nott, pursuant to his reply [OFFICIAL REPORT, 15th November 1973; Vol. 864, c. 215], gave the following information:
There is no single definition of M1 common to all EEC countries. Using the 401W narrow concept of the money supply as defined in each of the countries, the percentage increase are as follows:
Country Money Supply: Per cent. increase in latest 12-month period Latest month United Kingdom (M1) 7.3 October France 8.0 July Germany 0.8 August Italy 19.1 April Denmark* 12.3 August Belgium 11.8 July Netherlands 9.4 June Ireland 12.3 July Luxembourg (not available) * Notes outstanding plus demand deposits.