Income and Purchasing Power (Hansard, 5 December 1972)

§ 86. Mr. J. H. Osborn
asked the Chancellor of the Exchequer what steps he will now take to publish, on a regular basis, statistics relating to national income and purchasing power, indicating the amounts and percentages due to current earnings such as wages, salaries, incomes from self-employment, accumulated earnings in the form of pensions and proceeds of endowment policies, and income in the form of rent, interest, dividends and miscellaneous other sources.

1957 1962 1967 1971 1972 1st half seasonally adjusted

Value (£ million)

(1) Income from employment … 12,963 17,306 23,706 33,491 17,926

of which:

wages and salaries … 11,765 15,640 21,140 29,775 15,895

(2) Income from self-employment … 1,785 2,161 2,840 3,941 n.a.

Total of (1) and (2) … 14,748 19,467 26,546 37,432 n.a.

As a percentage of gross domestic product at factor cost

(1) Income from employment … 67.0 68.4 68.4 70.1 70.8

of which:

wages and salaries … 60.8 61.8 61.0 62.4 62.8

(2) Income from self-employment … 9.2 8.5 8.2 8.3 n a.

Total of (1) and (2) … 76.2 77.0 76.6 78.4 n.a.

As a percentage of gross national product at factor cost

(1) Income from employment … 66.1 67.5 67.7 69.5 70.1

of which:

wages and salaries … 60.0 61.0 60.3 61.8 62.2

(2) Income from self-employment … 9.1 8.4 8.1 8.2 n.a.

Total of (1) and (2) … 75.2 76.0 75.8 77.6 n.a.

n.a. = Not available.

Sources: National Income and Expenditure 1972.
Economic Trends, October, 1972.
374W

§ Mr. Nott
Statistics relating to the components of the national accounts are already regularly published, both in value and percentage terms. The main national accounts estimates are published quarterly inEconomic Trends and in greater detail annually in the National Income and Expenditure Blue Book. In addition, tables are published each October in Economic Trends giving national accounts components expressed as percentages of the appropriate aggregates; Table 4 of this year's edition shows the components of personal income expressed as percentages of the gross national product at factor cost.

§ 87. Mr. J. H. Osborn
asked the Chancellor of the Exchequer what is the value of wages, salaries, and income from self-employment, respectively, and in total; and if he will express these as a percentage of gross domestic product and gross national income, comparing them with five, 10 and 15 years ago, respectively.

§ Mr. Nott
The available information is given in the table below:
375W

§ Mr. Joel Barnett
asked the Chancellor of the Exchequer if profit on the sale of land or property previously used for domestic purposes is subject only to capital gains tax.

§ Mr. Nott
This would normally be the case if the land or property was owner-occupied or held as a capital investment and nothing occurred to alter that status before the sale.

		1957	1962	1967	1971	1972 1st half seasonally adjusted
Value (£ million)
(1) Income from employment	…	12,963	17,306	23,706	33,491	17,926
of which:
wages and salaries	…	11,765	15,640	21,140	29,775	15,895
(2) Income from self-employment	…	1,785	2,161	2,840	3,941	n.a.
Total of (1) and (2)	…	14,748	19,467	26,546	37,432	n.a.

As a percentage of gross domestic product at factor cost
(1) Income from employment	…	67.0	68.4	68.4	70.1	70.8
of which:
wages and salaries	…	60.8	61.8	61.0	62.4	62.8
(2) Income from self-employment	…	9.2	8.5	8.2	8.3	n a.
Total of (1) and (2)	…	76.2	77.0	76.6	78.4	n.a.

As a percentage of gross national product at factor cost
(1) Income from employment	…	66.1	67.5	67.7	69.5	70.1
of which:
wages and salaries	…	60.0	61.0	60.3	61.8	62.2
(2) Income from self-employment	…	9.1	8.4	8.1	8.2	n.a.
Total of (1) and (2)	…	75.2	76.0	75.8	77.6	n.a.
n.a. = Not available.