HC Deb 05 July 1978 vol 953 cc184-5W
Mr.Maurice Macmillan

asked the Chancellor of the Exchequer at what level his Department estimates the unofficial income to individuals from employment not recorded in the income calculation of the national income figures for each of the last 10 years; and if he will express these figures on an index basis, with 1967 being 100.

Mr.Denzil Davies

The income-based estimates of gross domestic product compiled by the Central Statistical Office are intended to cover all domestic income, in cash and in kind, generated by the output of goods and services as defined in the national accounts. In common with other national accounts series the figures are subject to errors of estimation. If the income-based estimates—or, indeed, the expenditure-based estimates—of gross domestic product were subject to downward bias of the kind apparently implied by the hon. Member's Question, there would be no objective means of quantifying this.

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