§ 85. Mr. Martenasked the Chancellor of the Exchequer what was the average growth rate of the British economy for the years 1959 to 1964 and 1964 to 1969, respectively; and to what extent the narrowing of profit margins in the years 1964 to 1969 was responsible for the adverse effects on investment.
§ Mr. HigginsThe average growth in United Kingdom gross national product at constant prices for 1959 to 1964 was 3.8 per cent. a year and for 1964 to 1969 2.2 per cent. a year. These increases take no account of differences in the pressure of demand in the terminal years of each period. It is not possible to quantity the extent to which the narrowing of profit margins in the years 1964 to 1969 was responsible for the adverse effects on investment.