§ Sir C. Osborneasked the Chancellor of the Exchequer, in view of the fact that the 1966 Budget reduced demand on the domestic economy by £700 million and the Government's action of 20th July, 1966, reduced it by a further £800 million, what other factors have caused domestic demand to increase substantially; and to what extent these factors are still operating.
§ Mr. Harold LeverBetween the third quarters of 1966 and 1968, consumer spending increased by 4½ per cent. at constant prices, public authorities consumption by 6⅓ per cent., fixed capital formation by nearly 7 per cent. and exports of goods and services by 11¼ per cent. My right hon. Friend will review the current state of demand in his forthcoming Budget statement.
§ Sir C. Osborneasked the Chancellor of the Exchequer what was the demand on the domesttic economy expressed in hundreds of millions of £ sterling in July, 1966; and what is the corresponding figure to the latest convenient date.
§ Mr. Harold LeverIn the third quarter of 1966, total final expenditure (seasonally adjusted) amounted to £11,279 million at current prices, or £9,141 million at 1958 prices. In the third quarter of 1968, the corresponding figures were £12,819 million and £9,691 million.