§ Mr. Nicholas Wintertonasked the Chancellor of the Exchequer if he will list the change in living standards for each of the last six years, as measured against the GNP for the same years.
§ Mr. Denzil DaviesThere is no unique measure of changes in living standards. Each of the following indicators (1) to (4) shows the change in realper capita income or consumption, by comparison
487Wwith the change in the nation's per capita domestic output given in column (5)
ESTIMATES PER HEAD OF TOTAL POPULATION—PERCENTAGE CHANGE ON PREVIOUS YEAR (1) (2) (3) (4) (5) Real personal disposable income Real national disposable income at market prices Consumers expenditure at constant prices Total final consumption of goods and services at constant prices* Gross domestic product at constan factort cost 1970 … +3.2 +2.4 +2.2 +2.0 +1.4 1971 … +2.3 +1.8 +2.6 +2.6 +1.4 1972 … +7.0 +2.7 +5.7 +5.2 +2.0 1973 … +5.4 +4.0 +4.2 +4.2 +4.9 1974 … +2.0 −4.6 −1.1 +0.2 +0.1 1975 … −0.1 +0.5 −0.3 +0.5 −1.7 * Consumers' expenditure plus public authorities current expenditure on goods and services. The differences between the figures given in columns (2) and (5) mainly reflect the effects of changes in the terms of trade; gross domestic product as constant factor cost measures changes in the volume of output, real national disposable income takes account of changes in the volume of imports which can be exchanged for domestic output.