HL Deb 30 January 1978 vol 388 c645WA
Lord CHITNIS

asked Her Majesty's Government:

Whether they will present the annual compound rate of growth of—

  1. (a) gross money income;
  2. (b) gross real income;
  3. (c) net real income;
for each year since 1970.

The PARLIAMENTARY UNDERSECRETARY of STATE, DEPARTMENT of the ENVIRONMENT (Baroness Birk)

The Question has been interpreted as relating to the United Kingdom economy as a whole. Gross money income is represented by column (a), gross real income by column (b) and net real income by column (c). National disposable income at constant market prices is assumed to be the best measure of real income as it takes account of the effects on the purchasing power of incomes of changes in the terms of trade.

Estimates for 1977 are not yet available.

Annual compound rate of growth between Gross national product at current factor National disposable income at 1970 market price(2)
1970 cost(1) Gross Net(3)
and (a) (b) (c)
1971 11.5 2.2 2.0
1972 12.3 2.6 2.4
1973 13.5 3.2 3.1
1974 13.8 1.2 1.0
1975 16.1 1.0 0.7
1976 16.3 1.1 0.8
(1) Income based.
(2) National product at 1970 market prices adjusted for the effect of changes in the terms of trade and for net current transfers abroad.
(3)After deducting capital consumption.