§ 37. Sir David Rentonasked the Chancellor of the Exchequer what proportion of the national income was spent in 1975–76 by Government Departments, local authorities, publicly owned corporations, industries and companies; and what proportion is to be spent in the current financial year.
§ Mr. Joel BarnettCentral Government, local authorities and public corporations, including nationalised industries, spent in 1975–76, 14, 13 and 4 per cent. respectively of the gross national product. These figures include goods and services only—the consumption of public authorities and investment of the public sector; other expenditure—transfers and net lending—does not in itself constitute expenditure on the national988W product, though it enables the recipients to spend. In the calculations of the proportions, both expenditure and GNP were expressed in market prices. I would not expect the proportions for the current year to be very different.