§ Sir S. Reedasked the Chancellor of the Exchequer will he give authoritative figures for the comparison between the national income before the last war and the national income before the outbreak of the present war, making allowance for the increase of prices and for any other factors which are relevant to the comparison between the two periods?
§ Sir K. WoodFigures of this character must necessarily contain a large element of estimation, but the following figures give a comparison for 1911 and 1938 calculated on a similar basis for the two years. On this basis, the net national income for the present area of the United Kingdom in 1911 is estimated at a figure rather in excess of£2,100,000,000. In 1938 it was estimated to be a little short of£5,100,000,000. Over the same period the total population rose some 13 per cent. so that the money income per head has risen by 115 per cent. The retail price level, as measured (since 1914) by the Ministry of Labour cost-of-living index number, rose by rather more than 60 per cent. between the two dates, so that on this basis the real income per head of the population has risen by something over 30 per cent. between 1911 and 1938. The increase in population over this period was accompanied by a rise in the proportion of persons of working age. When allowance is made for this factor, the1050W average increase in real income per head of the working population may be estimated to be of the order of 25 per cent.