§ Mr. Deakinsasked the Chancellor of the Exchequer to what extent past figures of the United Kingdom rate of growth of gross national product show a correlation with changes in the United Kingdom balance of payments position.
§ Mr. HigginsFigures for the past decade suggest that there is some inverse correlation between the rate of growth52W of G.D.P. and the current account of the balance of payments. But the relationship is not a particularly close one and is influenced by a number of variables such as changes in relative competitiveness and the level and changes in pressure of demand in the domestic and overseas markets.
§ Mr. Deakinsasked the Chancellor of the Exchequer what estimate he has made of the effect of the growth of gross national product on the level of unemployment.
§ Mr. HigginsGross domestic product is currently rising at an annual rate of at least 4–4½ per cent. I am confident that this growth rate will lead to an improvement in the trend of unemployment.