§ Mr. Biggs-Davisonasked the Chancellor of the Exchequer what is the total value of the turnover of industry and commerce in the United Kingdom; and what proportion thereof is contributed by publicly owned enterprises.
§ Mr. HigginsFigures of total turnover are not available. However, estimates of total output in 1968 are given in the provisional input-output tables for that year published in the January, 1971, issue 353W of Economic Trends. From thees it is estimated that the total output of industry and commerce was about £60,000 million, of which about 12 per cent. was accounted for by publicly owned enterprises.
Total turnover, which includes a great deal of duplication as goods pass through the distribution system, would have been over 50 per cent. higher, with a corresponding fall to 8 per cent. or less in the proportion attributable to publicly owned enterprises since only a small part of the output of publicly owned enterprises passes through the distributive trades.