§ Mr. Pawseyasked the Chancellor of the Exchequer what is his forecast of the level of the penetration of the British economy by imports by the year 1995.
§ Mr. Ian StewartForecasts are not made this far ahead because of large uncertainties involved in long-term 205W forecasting. Trends in import penetration depend on a number of factors, including changes in the structure of the United Kingdom economy, the degree of trade liberalisation and the competitive performance of British industry.
§ Mr. Pawseyasked the Chancellor of the Exchequer what is the annual rate by which imports are increasing their penetration of the economy.
§ Mr. Ian StewartThere are a number of different measures of important penetration. The table gives figures in current prices for total imports of goods and services, excluding oil, as a percentage of non-oil domestic demand.
The ratio of total imports of goods and services to total domestic expenditure (excluding oil) Per cent. 1970 20.4 1971 19.8 1972 0.1 1973 23.5 1974 27.3 1975 24.1 1976 25.7 1977 27.2 1978 25.8 1979 26.3 1980 24.4 1981 23.3 1982 23.7 *1983 24.9 * First three quarters.