§ Mr. Knoxasked the Chancellor of the Exchequer, from information available from international sources, what is the gross domestic product per head at factor cost in Germany, France, Italy, Belgium, Luxembourg and the Netherlands for the most recent year for which figures are available; and how these figures compare with that for the United Kingdom for the same year.
§ Mr. Denzil DaviesThe figures available in the international sources relate to gross domestic product at market prices per head of total population in 1973. The relative exchange rates used in the publications are central parity rates or market rates of exchange, and these do not reflect differences in the relative internal purchasing powers of the currencies. The figures are as follows:
West Germany … … £2,277 France … … £1,958 Italy … … £1,024 Belgium (1972) … … £1,426 Luxembourg … … £2,112 Netherlands … … £1,814 United Kingdom … … £1,258 Source: National Accounts ESA Aggregates, 1960–1973 (Statistical Office of the European Communities).
§ Mr. David Priceasked the Chancellor of the Exchequer if he will publish figures showing the proportions of the gross domestic product taken up by public expenditure by wages and salaries, by corporate profits and by fixed capital formation in manufacturing industry for each year from 1964 to 1974, inclusive.
§ Mr. Denzil DaviesTable 1 shows the expenditure items requested as a percentage of gross domestic product, at market prices. Since not all of public expenditure involves a direct preemption of the resources generated by the 345W gross domestic product, the table also shows public expenditure on goods and services; that is, excluding transfer payments such as pensions and National Insurance benefits.
TABLE 1 PERCENTAGE OF GROSS DOMESTIC PRODUCT AT MARKET PRICES Public expenditure Total Goods and services Gross domestic fixed capital formation in manufacturing 1964 … 43.6 27.6 4.2 1965 … 45.3 28.3 4.6 1966 … 46.2 29.4 4.6 1967 … 50.2 31.4 4.2 1968 … 51.1 31.1 4.3 1969 … 50.4 30.1 4.8 1970 … 50.7 30.6 4.9 1971 … 50.2 30.4 4.5 1972 … 50.3 30.2 3.9 1973 … 51.2 30.1 4.0 1974 … 57.7 32.6 4.6 Table 2 shows wages and salaries and company profits as a percentage of gross domestic product at factor cost. Company profits, like gross domestic product, are shown after providing for stock appreciation but before providing for depreciation.
TABLE 2 PERCENTAGE OF GROSS DOMESTIC PRODUCT AT FACTOR COST Wages and salaries Company profits 1964 … 61.1 14.8 1965 … 61.1 14.3 1966 … 61.7 13.0 1967 … 61.0 13.0 1968 … 60.4 12.9 1969 … 61.2 11.6 1970 … 62.0 10.5 1971 … 61.5 10.8 1972 … 60.8 10.7 1973 … 60.6 10.0 1974 … 63.4 7.0 Sources: National Income and Expenditure, 1963–1973. Economic Trends.