§ Mr. Brotherton
asked the Chancellor of the Exchequer if the Treasury makes estimates of quasi-money in addition to M3; and, if so, what they are.
§ Mr. Dell
My right hon. Friend takes account of a range of financial statistics in addition to M3. But once one considers aggregates wider than M3 by including liquid assets other than those held with the banks, such as building society shares and deposits, there is no clear dividing line and no one generally accepted definition of quasi-money. Tables 81 and 90 of the Central Statistical Office publication "Financial Statistics" do, however, provide figures for a range of selected liquid assets held by industrial and commercial companies and the personal sector.