§ Mr. Meacherasked the Chancellor of the Exchequer what has been the percentage increase, compared with a year previously, in gross domestic fixed capital formation, respectively, for the total economy and for the private sector only, during each quarter since January 1960.
§ Mr. NottThe information is given in the table below on the basis of estimates of gross domestic fixed capital formation at current prices and on the basis of similar estimates at constant prices.
266W
PERCENTAGE CHANGE IN GROSS DOMESTIC FIXED CAPITAL FORMATION WHEN COMPARED WITH THE CORRESPONDING QUARTER OF THE PREVIOUS YEAR At current prices At constant prices Total Private sector Total Private sector 1960— I 13.1 13.2 14.6 14.4 II 7.6 11.6 8.2 12.4 III 12.2 19.9 9.8 17.3 IV 7.6 14.0 5.2 10.9 1961— I 12.3 14.1 9.6 11.6 II 14.8 13.1 11.4 10.0 III 14.4 15.7 13.0 13.9 IV 7.8 9.9 5.4 7.1
At current prices At constant prices Total Private sector Total Private sector 1962— I 5.1 2.1 2.1 -1.2 II 3.9 3.0 1.0 0.4 III 0.9 -2.6 -2.1 -4.5 IV 0.9 -3.8 -2.0 -5.8 1963— I -6.1 -4.6 -8.7 -5.0 II 2.9 -0.7 0.6 -1.8 III 6.4 0.1 3.4 -1.6 IV 12.7 8.4 11.1 + 9.0 1964— I 30.5 21.7 27.6 20.0 II 17.3 15.5 14.1 13.7 III 16.4 19.4 13.8 18.6 IV 14.7 15.6 11.6 13.4 1965— I 11.7 13.7 8.9 10.5 II 6.8 7.2 3.1 3.8 III 4.8 4.2 0.6 — IV 7.4 6.0 3.8 2.4 1966— I 6.2 3.3 1.6 -0.1 II 5.3 0.9 1.8 -2.6 III 8.4 2.8 4.8 0.8 IV 5.4 -1.0 1.0 -4.2 1967— I 8.7 -0.9 6.4 -3.2 II 12.7 9.1 10.9 8.8 III 8.3 3.6 7.3 2.8 IV 5.5 -0.4 4.8 — 1968— I 9.6 7.5 6.8 6.1 II 5.1 4.8 1.6 2.1 III 7.2 12.9 2.6 9.0 IV 11.1 21.5 6.9 17.6 1969— I 4.0 14.5 0.4 10.5 II 4.7 12.9 1.4 9.6 III 6.3 10.9 2.6 6.7 IV 5.1 6.4 -0.1 0.8 1970— I 3.0 3.1 -2.3 -1.8 II 11.0 9.6 3.9 2.7 III 9.4 9.7 1.6 2.4 IV 12.7 10.8 4.9 3.0 1971— I 11.3 5.3 3.1 -4.1 II 8.8 11 .9 0.7 3.1 III 9.2 12.0 -0.3 1.9 IV 9.0 13.9 -1.3 2.9 1972— I 13.2 22.0 2.5 12.2 II 10.5 14.1 0.9 2.7 III 9.0 10.4 -0.2 0.3 IV 11.3 17.0 1.6 6.0 1973— I 21.5 25.7 5.6 9.6 II 16.2 17.7 0.5 3.8
§ Mr. Meacherasked the Chancellor of the Exchequer what has been the total net fixed capital formation (other than dwellings), total amount borrowed, and hence replacement of existing 267W capital financed by borrowing by public corporations for each year isnct 1948.
§ Mr. NottThe table below provides figures of net fixed capital formation and total borrowing by public corporations. There is not necessarily any direct relationship between these two sets of figures, and it does not follow that their differences provides estimates of the replacement of existing capital which is financed by borrowing. This is because gross fixed capital formation is financed from internal resources—undistributed income—and from capital grants as well as by borrowing, and it is not possible to attribute any part of the gross—and therefore net—fixed capital formation to any particular form of financing.
PUBLIC CORPORATIONS Net fixed capital formation (excluding dwellings) Total borrowing (other than by housing and new town corporations) £m. £m. 1948 29 164 1949 75 80 1950 86 184 1951 111 183 1952 112 297 1953 150 194 1954 203 321 1955 233 373 1956 231 340 1957 283 541 1958 295 561 1959 342 608 1960 351 472 1961 374 506 1962 350 470 1963 395 423 1964 495 528 1965 543 634 1966 625 785 1967 745 1,062 1968 596 960 1969 376 589 1970 416 827 1971 441 1,075 1972 213 901 Notes:
- (1) The figures of net fixed capital formation (excluding dwellings) are taken from the National Income and Expenditure Blue Books and relate to recorded gross fixed capital formation less estimated capital consumption.
- (2) The figures of total borrowing cover net loans from central Government, issues less redemption of stock, and borrowing from own super annuation funds, from banks and from abroad. (Borrowing from banks is not included before 1952 because the information is not available). Borrowing by housing and new town corporations has been excluded from the total in order to obtain closer correspondence with the figures of net fixed capital formation.