§ Mr. Bruce-Gardyneasked the Chancellor of the Exchequer if he will publish in the OFFICIAL REPORT a table showing the percentage of gross domestic product at factor cost pre-empted by public expenditure net of debt interest in 1964, 1969, 1970, 1971 and 1972.
§ Mr. Patrick JenkinExcluding debt interest, public expenditure expressed as a percentage of gross domestic product was as follows:
per cent. 1964 … … … … … 39.2 1969 … … … … … 45.7 1970 … … … … … 45.7 1971 … … … … … 46.1 Figures for 1972 are not yet available.
A substantial part of public expenditure consists of transfer payments which imply final expenditure by the private sector, not pre-emption of resources by the public sector.