§ 59. Mr. John Smithasked the Chancellor of the Exchequer what was the average annual growth from 1959–60 to 1964–65, inclusive, in the share of gross domestic product at market prices taken by public expenditure as defined in the Treasury analysis in National Income and Expenditure 1968; and what is the corresponding figure for 1964–65 to 1968–69, inclusive, calculating the growth on an arithmetic rather than a percentage basis.
§ Mr. DiamondFrom 1959–60 to 1964–65 the proportion of total public expenditure to gross domestic product at market prices rose from 37.0 per cent. to 39.0 per cent., equivalent to an average increase of 0.4 percentage points a year. Fgures for 1968–69 are not yet available, but in 1968 total public expenditure, including investment grants, additional payments of selective employment tax and regional employment premium, was equal in size to 45.6 per cent. of gross domestic product at market prices; this implies an increase since 1964–65 of 1.8 percentage points a year.