§ Mr. Nottasked the Chancellor of the Exchequer what was the percentage increase or decrease in the savings ratio from the formation of the European Economic Community up to the present time in the United Kingdom and each of the six members of the European Economic Community.
§ Mr. HigginsThe figures are given in the table below for the longest period for which they are available on a comparable basis. In view of the differences in the periods covered, annual rates of increase have been shown as well as the total increase. However, year-to-year fluctuations in the ratio of saving to personal disposable income are important and the increases shown, which take account only of the ratios in the first and last years, may be much affected by fluctuations in those years.
SAVING OF HOUSEHOLDS* AS A PERCENTAGE OF DISPOSABLE INCOME Percentage increase Period for which consistent figures available Total At an annual rate United Kingdom 1958–69 231.4 11.5 Belgium 1959–69 55.6 4.5 France 1958–69 9.3 0.8 Germany 1960–69 -4.3 -0.5 Italy 1961–69 6.8 0.8 Luxembourg 1958–68 -5.3 -0.5 Netherlands 1958–69 21.9 1.8 * Including private non-profit institutions. Sources:
U.K. National Income Blue Book and Economic Trends.
E.E.C. National Accounts 1959–69.
370W
§ Mr. Nottasked the Chancellor of the Exchequer what, in sterling, was the weekly increase in the cost of living in each Common Market country and in the United Kingdom, respectively, between 1958 and 1969, or a later available date.
§ Mr. HigginsI would refer my hon. Friend to the answer I gave to his previous question yesterday for the increase in the price index of consumers' expenditure over a period as near as possible to 1958 to 1969. Converted to a weekly rate, these increases are:
Period for which consistent figures available Average weekly rate of increase in price index of consumers' expenditure United Kingdom … 1958–69 .06 Belgium … 1959–69 .05 France … 1958–69 .08 Germany … 1960–69 .05 Italy … 1958–69 .06 Luxembourg … 1960–69 .06 Netherlands … 1958–69 .07 Sources:
United Kingdom National Income Blue Book and Economic Trends.
E.E.C. National Accounts, 1959–69.