§ Mr. Hordernasked the Chancellor of the Exchequer if he will publish a table showing the movement of domestic credit expansion from the first quarter of 1970, seasonally adjusted, for each quarter thereafter, both in figures and as proportions.
595W
§ Mr. DellDomestic credit expansion is a measure of the main domestic factors leading to an expansion in money supply during a given period, and is by nature a flow concept. There are complex statistical and conceptual problems involved in calculating a stock of domestic credit, so it is not possible to express domestic credit expansion satisfactorily as a proportionate change in that stock. The quarterly figures for the flow of domestic credit expansion were:
Domestic Credit Expansion* (£ million, seasonally adjusted) Year Quarter 1970 1 −163 2 436 3 538 4 230 1971 1 141 2 33 3 357 4 457 1972 1 1,223 2 2,110 3 1,385 4 2,147 1973 1 1,793 2 1,207 3 2,912 4 2,868 1974 1 1,708 2 1,228 3 2,188 4 2,536 1975 1 1,011 2 2,761 * These figures include changes in transactions and revaluations in respect of foreign currencies