Public Expenditure and Income (Hansard, 14 April 1970)

§ 44. Mr. Maurice Macmillan
asked the Chancellor of the Exchequer whether he will publish a table in the OFFICIAL REPORT similar to table 1.2 in Command Paper No. 4234, Public Expenditure 1968–69 to 1973–74, showing the outturn for each of the financial years 1968–69 to 1971–72 of receipts and expenditure so that the balance of the total public sector and that balance less net receipts and net expenditure on capital may both be readily deduced.

§ Mr. William Rodgers
The total public sector balance and the balance on current account for 1968–69 at outturn prices for that year appear in the Supplementary table on pages 119 and 120 respectively, of Financial Statistics for December, 1969. The corresponding balances at outturn prices for 1969–70 and 1970–71 will be published later today in table 5 of the Financial Statement and Budget Report; those for 1971–72 are not available.

§ Mr. Alison
asked the Chancellor of the Exchequer whether he will publish in the OFFICIAL REPORT a table showing for the years 1956 to 1968, inclusive, and for the first and second halves, respectively, of the years 1964–68, inclusive, compromise estimates of expenditure, imports and gross domestic product consistent and comparable with the forecasts given in his Financial Statement and Budget Report.

§ Mr. William Rodgers
I would refer the hon. Member to the table in my reply today to his Written Question No. 5. This gives index numbers for gross domestic product as measured by the arithmetic average of the income, expenditure and output estimates. This series differs from the "compromise" series in the Financial Statement and Budget Report for 1970–71 only by the absence of specific discretionary adjustments: adjustments that are usually small202W and not important over long periods. It is not, however, possible to provide a set of expenditure and import figures precisely consistent with these figures.

§ Mr. Alison
asked the Chancellor of the Exchequer if he will list the percentage increases at constant 1963 prices between 1959 and 1964, and between 1964 and 1969, in gross domestic fixed capital formation, and its component parts, the income, expenditure and output estimates of gross domestic product and the average of the three, and payments of taxes on income by the personal sector.

§ Mr. William Rodgers
The figures are given below:

Percentage changes at constant 1963 prices

1959–64 1964–69

Gross domestic fixed capital formation

Total 42 16

By sector:

Private sector 42 12

Public authorities 41 33

Public corporations 42 6

By industry group:

Mining and quarrying -20 14

Manufacturing 26 20

Gas, electricity and water 62 -13

Transport and communication -3 34

Distributive trades 43 2

Agriculture and other industries 62 24

Dwellings 58 5

Public services 83 41

Transfer costs 9 12

Gross domestic product at factor cost

Income estimate 21.9 11.6

Expenditure estimate 20.2 11.0

Output estimate 19.1 12.3

Average of income, expenditure and output estimates 20.3 11.6

Taxes on income paid by the personal sector^* 39 51

^* Revalued by the consumer price index.

§ Mr. Alison
asked the Chancellor of the Exchequer whether he will publish in the OFFICIAL REPORT for each calendar and financial year, respectively, since 1945, or as many of these years as possible, a compromise index of gross domestic product comparable with that given in Table 3 of the Financial Statement and Budget Report 1969–70 but at constant 1963 prices and based on 1963 being 100.
203W

§ Mr. William Rodgers
The figures are given in the Table belowThe compromise estimate has been taken as the average of the separate estimates derived from expenditure income and output data. The figures for financial years and for half-years have been derived from seasonally adjusted quarterly figures.

INDEX OF COMPROMISE GROSS DOMESTIC PRODUCT AT CONSTANT FACTOR COST

1963=100

Calendar years

1948 67.2

1949 69.6

1950 71.7

1951 74.0

1952 73.8

1953 76.7

1954 79.8

1955 82.6

1956 83.5

1957 84.9

1958 84.4

1959 87.7

1960 92.7

1961 95.1

1962 96.2

1963 100.0

1964 105.6

1965 108.6

1966 110.4

1967 112.0

1968 115.9

1969 117.9

1959–60 £m 1960–61 £m 1961–62 £m 1962–63 £m 1963–64 £m

Total public expenditure (at 1969–70 out-turn prices) 12,279 12,723 13,603 13,784 14,535

Per cent. Per cent. Per cent. Per cent. Per cent.

Annual percentage increase … n.a. 3.6 6.9 1.3 5.4

	Percentage changes at constant 1963 prices
	1959–64	1964–69
Gross domestic fixed capital formation
Total	42	16
By sector:
Private sector	42	12
Public authorities	41	33
Public corporations	42	6
By industry group:
Mining and quarrying	-20	14
Manufacturing	26	20
Gas, electricity and water	62	-13
Transport and communication	-3	34
Distributive trades	43	2
Agriculture and other industries	62	24
Dwellings	58	5
Public services	83	41
Transfer costs	9	12
Gross domestic product at factor cost
Income estimate	21.9	11.6
Expenditure estimate	20.2	11.0
Output estimate	19.1	12.3
Average of income, expenditure and output estimates	20.3	11.6
Taxes on income paid by the personal sector^*	39	51
^* Revalued by the consumer price index.

INDEX OF COMPROMISE GROSS DOMESTIC PRODUCT AT CONSTANT FACTOR COST
1963=100
Calendar years
1948	67.2
1949	69.6
1950	71.7
1951	74.0
1952	73.8
1953	76.7
1954	79.8
1955	82.6
1956	83.5
1957	84.9
1958	84.4
1959	87.7
1960	92.7
1961	95.1
1962	96.2
1963	100.0
1964	105.6
1965	108.6
1966	110.4
1967	112.0
1968	115.9
1969	117.9

		1959–60 £m	1960–61 £m	1961–62 £m	1962–63 £m	1963–64 £m
Total public expenditure (at 1969–70 out-turn prices)	12,279	12,723	13,603	13,784	14,535
		Per cent.	Per cent.	Per cent.	Per cent.	Per cent.
Annual percentage increase	…	n.a.	3.6	6.9	1.3	5.4