HC Deb 11 May 1951 vol 487 cc268-9W
Mr. Padley

asked the Chancellor of the Exchequer whether he will revise tables 25 and 26 of the Economic Survey by giving figures for 1951, based on the Budget proposals.

Mr. Gaitskell

The information is given in the following tables.

REVENUE ACCOUNT OF CENTRAL GOVERNMENT
Economic Survey Table 25 £ million
Revenue 1950 1951 before Budget 1951 after changes Expenditure 1950 1951 before Budget 1951 after changes
Direct taxes on income: Current expenditure on goods and services 1,468 1,940 1,940
Income tax and surtax 1,536 1,580 1,600
Other 272 295 295 National debt interest 544 595 595
Direct taxes on capital: Subsidies 444 445 445
Death duties and special contribution 188 185 185 Social security payments and other personal transfers 331 335 335
Indirect taxes:
On drink and tobacco 1,000 1,755 1,800 Grants to local authorities 352 390 390
Other 743
Contribution from National Insurance Funds to National Health Service 41 40 40 Transfers to National Insurance Funds 153 155 135*
Other receipts 138 150 150 War damage payments and other capital transfers 145 130 130
Total revenue £3,918 4,005 4,070 Total current expenditure 3,437 3,990 3,970
Current surplus 481 15 100
Current expenditure plus surplus 3,918 4,005 4,070
* Amended National Insurance proposals.

THE FINANCE OF INVESTMENT
Economic Survey Table 26 £ million
— 1950 1951 before Budget 1951 after changes
Gross domestic investment 2,277 2,415 2,415
Overseas surplus or deficit 229 -100 -100
Total sums required to be set aside 2,506 2,315 2,315
Surplus on current account of Central Government 481 15 100
War damage and other transfers from Central Government to private capital account 145 130 130
Less Death Duties and other taxes on capital -188 -185 -185
Surplus of local authorities and National Insurance Funds 195 180 150*
Depreciation allowances 1,124 1,120 1,120
Increase in business tax reserves 118 530 685
Undistributed profits 569 780 690
Less provision for stock appreciation by companies and public authorities -270 -700 -700
Total other than personal saving 2,174 1,870 1,990
Personal saving required 332 445 325
Total sums required to be set aside 2,506 2,315 2,315
* Amended National Insurance proposals