§ Mr. Peter Walkerasked the Chancellor of the Exchequer if he will give the proportion of public sector gross domestic fixed capital formation in each year represented by the surplus of current taxation over current expenditure, by the net new persona] national savings and by the net additional marketable Government securities, respectively, for each of the last 10 years.
§ Mr. MacDermotThe figures are shown in the table below:
PERCENTAGES OF PUBLIC SECTOR GROSS DOMESTIC FIXED CAPITAL FORMATION Surplus of current taxation over current expenditure National Savings Net sales of marketable government securities 1954 −23 7 9 1955 −6 3 22 1956 −13 6 −10 1957 −6 5 1 1958 −5 14 19 1959 −16 25 −13 1960 −36 20 6 1961 −30 12 −23 1962 −16 12 17 1963 −29 15 −5 1964 −16 14 −19 Notes:
- 1. The figures are derived from the National Income Blue Book for 1965 (Tables 47, 69 and 71). Figures for 1965 are not yet available.
- 2. Current taxation comprises: taxes on income, taxes on expenditure (including local rates) and National Insurance and Health contributions.
- 3. Current expenditure by public sector covers all current expenditure other than that on goods and services on operating account by public corporations and other public enterprises.
- 4. National savings includes deposits with special investment departments of trustee savings banks, a part of the funds of which are reinvested in marketable Government securities.
- 5. Net sales of marketable Government securities include Government guaranteed securities and Treasury bills, and relate to net sales by the public sector taken as a whole.