§ Mr. Knoxasked the Chancellor of the Exchequer, from information available from international sources, what was the gross domestic product per head at factor cost in the United States of America for the most recent year for which information is available; and how this compares with the figure for the United Kingdom.
§ Dr. GilbertThe most recent year for which estimates of gross domestic product at factor cost per head are available from international sources is 1972. The figures are as follows:
The figure for the United States has been converted into £ sterling on the basis of (a) the average telegraph transfer rate in London (£1 = $2.502) and (b) the official rate of exchange (£1=$2.6057). However, differences in the internal purchasing power of national currencies are 237W not necessarily reflected in international rates of exchange.
£ United Kingdom 965 United States of America (a) 2,045 (b) 1,960