HC Deb 24 July 1975 vol 896 cc283-4W
Mr. Sillars

asked the Chancellor of the Exchequer what is his latest estimate of the growth of productive potential; and how this compares with the major economies represented on the Organisation for Economic Co-operation and Development.

PUBLIC EXPENDITURE ON TRANSFER PAYMENTS AND LOANS AS A PERCENTAGE OF GROSS DOMESTIC PRODUCT AT FACTOR COST
Current grants to personal sector
Subsidies National insurance benefits other Capital grants to private sector Current and capital grants abroad Net lending etc. to private sector and overseas Debt interest Total transfer payments and loans
1949 … 4.8 3.5 2.7 1.4 0.4 0 5.7 18.5
1950 … 4.2 3.4 2.7 1.2 0.4 0.1 5.6 17.6
1951 … 3.7 3.2 2.5 0.8 0.5 0.4 5.5 16.6
1952 … 3.1 3.4 2.6 0.7 0.5 0.2 5.5 16.0
1953 … 2.5 3.5 2.7 0.6 0.5 0.1 5.4 15.3
1954 … 2.7 3.4 2.6 0.4 0.5 0 5.2 14.8
1955 … 2.1 3.6 2.5 0.6 0.4 0.4 5.4 15.0
1956 … 2.0 3.7 2.4 0.4 0.4 0.3 5.0 14.2
1957 … 2.1 3.6 2.4 0.4 0.4 0.3 4.9 14.1
1958 … 1.9 4.5 2.4 0.4 0.4 0.1 5.2 14.9
1959 … 1.7 4.6 2.7 0.3 0.4 0.2 5.0 14.9
1960 … 2.2 4.4 2.5 0.4 0.4 0.6 5.1 15.6
1961 … 2.5 4.6 2.4 0.4 0.5 0.5 5.2 16.1
1962 … 2.4 4.8 2.6 0.4 0.5 0.6 50 16.3
1963 … 2.1 5.2 2.7 0.4 0.5 0.5 4.8 16.2
1964 … 1.8 5.1 2.6 0.5 0.6 0.7 4.6 15.9
1965 … 1.8 5.7 2.6 0.6 0.6 1.0 4.7 17.0
1966 … 1.7 5.7 2.8 0.6 0.5 0.7 4.7 16.7
1967 … 2.3 6.0 3.2 1.2 0.5 0.6 4.9 18.7
1968 … 2.4 6.3 3.5 1.8 0.5 0.6 5.1 20.2
1969 … 2.2 6.2 3.8 2.0 0.5 0.4 5.2 20.3
1970 … 2.1 6.3 3.8 1.7 0.4 0.6 5.0 19.9
1971 … 1.9 6.0 3.8 1.8 0.4 0.8 4.6 19.3
1972 … 2.1 6.4 4.3 1.3 0.4 0.9 4.5 19.9
1973 … 2.4 6.3 4.0 1.3 0.6 1.5 4.6 20.7
1974 … 4.1 6.9 41 1.2 0.5 2.6 5.2 24.6

The total of the above items is equal to the difference between the figures in the first and second columns of Table 1

Mr. Dell

The estimated rate of growth of productive potential in the United Kingdom is about 3 per cent. per annum. No up-to-date comparable estimates for major OECD countries are available from international sources.