§ Mr. Nigel GriffithsTo ask the Chancellor of the Exchequer what is the growth in(a) non-oil national income and (b) national income including oil per head since 1979.
§ Mr. MajorThe only measure which is compiled including and excluding oil is the output-based measure of the gross domestic product (GDP). Expressed in per capita terms, this grew 14.8 per cent. between 1979 and 1987. Excluding the contribution of the extraction of mineral oil and natural gas, the growth over the same period was 12.3 per cent.
§ Mr. Teddy TaylorTo ask the Chancellor of the Exchequer what benefits would accrue to the United Kingdom from joining the exchange rate mechanism of the European monetary system; and if there are any comparable disadvantages.
§ Mr. Lilley[holding answer 16 February 1989]: I refer my hon. Friend to the answers I gave to my hon. Friend the Member for Holland with Boston (Sir R. Body) on 20 January 1989 at column 358 and the hon. Member for Berwick-upon-Tweed (Mr. Beith) on 1 February 1989 at column 226 and to my right hon. Friend's reply to a question from the hon. Member for Dunfermline, East (Mr. Brown) at column 1162 on 26 January 1989.