§ 73. Mr. Onslowasked the Chancellor of the Exchequer if he will estimate the effect on tax revenue of¼ per cent. faster growth in gross domestic product,½ per cent., ¾ per cent., 1 per cent., and 2 per 295W cent., respectively, between 1970–71 and 1972–73.
§ Mr. Taverne:The total of tax revenue depends not only on the aggregate of the real gross domestic product but on the proportions of the elements which make up G.D.P. and on price movements. It is therefore not possible to give useful estimates of tax revenue on assumptions about the rate of growth of aggregate G.D.P. alone.