§ 103. Mr. Templeasked the Chancellor of the Exchequer what was the level of public expenditure, inclusive of transfer payments and investment of public corporations, in each year since 1964, expressed as a percentage of gross national 312W product, and what he estimates it will be in 1968 and 1969 on the basis of Command Paper No. 3515 and the forecasts he has given for future increases in the gross national product.
§ Mr. Roy Jenkins:Below are set out figures for Gross National Product and total public expenditure (including transfer payments and the capital expenditure of nationalised industries, etc., but excluding debt interest), for 1964, 1965 and 1966. Comparable figures for 1967 and estimates for 1968 and 1969 are not available. For the reasons given by my right hon. Friend the Chief Secretary to the hon. Member for St. Ives (Mr. Nott) on 18th January, 1967, I do not think it is useful to express total public expenditure as a percentage of gross national product.
—[Vol. 739, c.91.]
£million 1964 1965 1966 Gross National Product 29,231 31,137 32,540 Public Expenditure 11,423 12,667 13,676