§ Mr. David Priceasked the Chancellor of the Exchequer what are the figures for the annual increase in money supply for each of the last 10 years, using both the M1 and the M3 measures of money supply, respectively; and what are the corresponding annual figures for the depreciation in the value of the £ sterling.
§ Mr. DellThe figures are:
Percentage increase end-year on end-year Percentage increase December on December Retail Price M1 M3 Index 1964 3.1 5.5 4.8 1965 3.9 7.6 4.5 1966 -0.1 3.6 3.7 1967 8.5 9.9 2.4 1968 4.1 7.3 5.9 1969 0.3 3.1 4.7 1970 9.3 9.5 7.9 1971 10.9 13.0 9.0 1972 14.2 27.8 7.7 1973 5.1 27.5 10.6 1974 NA* NA* 19.1 * Figures are not yet available. In the banking year (12th December 1973 to 11th December 1974) M1 and M3 rose by 7.2 per cent. and 11.8 per cent. respectively using seasonally adjusted figures. There have been several slight changes in coverage of the money supply figures during the period.