§ 80. Mr. Dickensasked the Chancellor of the Exchequer if, taking 1964 as 100 he will state the percentage increase in gross domestic product at factor cost and in public expenditure, in the subsequent years up to and including 1968.
§ Mr. DiamondThe average annual rate of increase at constant prices in gross domestic product at factor cost was 2.3 per cent. over the period 1964 to 1968: over the same period the average annual rate of increase in public expenditure, excluding selective employment tax additional payments, regional employment premiums and investment grants, capital expenditure by the nationalised industries, etc., and debt interest, was 4.8 per cent. The hon. Member will appreciate that the total of public expenditure is not a very reliable measure of the share of resources taken by the public sector.