§ Mr. Stanleyasked the Chancellor of the Exchequer what total public expenditure is represented (a) as a percentage of GDP and (b) as a percentage of GNP in 1975 and 1976, the figure for 1976 being the best available estimate to date.
§ Mr. Joel Barnett, pursuant to his reply [Official Report, 7th July 1976; Vol. 914, c. 595], circulated the following information:
Public expenditure in 1975 represented 59.0 per cent. of GDP at factor cost and 58.2 per cent. of GNP at factor cost. Figures are available only for the first three months of 1976 and it would not be meaningful to base an estimate for the whole year on this information.