§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer (1) if he will lift the annual increase in velocity of circulation of sterling M4 between 1986 and 1991 and since 1991 together with his estimate of the effect on output and employment (i) in the whole economy and (ii) in manufacturing;
(2) what was the change in velocity of circulation of sterling MO at an annual rate between 1986 and 1989 and since 1989; and what is his estimate of the effect on 940W output and employment (a) in the whole economy and (b) in manufacturing.
§ Mr. NelsonData on the velocity of circulation of M0 and M4 is published in "Financial Statistics", table 3.1B. Data on output and employment are published in "Economic Trends", tables 2, 15 and 21. If shifts in velocity reflect changes in willingness to hold money, it is not clear that they would have any implications for output and employment.