Gross National and Domestic Products (Hansard, 13 February 1976)

§ Mr. Nott
asked the Chancellor of the Exchequer if he will provide figures for GNP and GDP at current and constant prices, at factor cost and at market prices for 1946 to 1955 and 1956 to 1975, respectively.

§ Mr. Denzil Davies
The following table shows the figures requested, together with an index of national disposable income at constant market prices. Gross national product at constant prices measures changes in the volume of output, whilst national disposable income at constant prices measures changes in the nation's real income taking into account movements in the terms of trade. Figures are not yet available for 1975, and there are no constant price figures available for 1946 and 1947.
401W

£ million

Gross domestic product Gross national product

At current prices At 1970 prices At current prices At 1970 prices

Year Factor cost Market prices Factor cost Market prices Factor cost Market prices Factor cost Market prices National disposable income at 1970 market prices Index 1970=100

1946 … … 8,803 9,989 N.A. N.A. 8,888 10,074 N.A. N.A. N.A.

1947 … … 9,341 10,684 N.A. N.A. 9,491 10,834 N.A. N.A. N.A.

1948 … … 10,292 11,729 23,474 27,652 10,527 11,964 23,919 28,102 54.4

1949 … … 10,925 12,388 24,204 28,483 11,144 12,607 24,605 28,888 56.2

1950 … … 11,359 12,943 24,998 29,387 11,755 13,339 25,659 30,060 58.0

1951 … … 12,643 14,437 25,902 30,453 12,985 14,779 26,322 30,876 57.7

1952 … … 13,794 15,659 25,905 30,400 14,046 15,911 26,214 30,704 58.9

1953 … … 14,881 16,873 27,122 31,810 15,110 17,102 27,430 32,116 61.8

1954 … … 15,730 17,800 28,103 33,012 15,980 18,050 28,443 33,350 64.0

1955 … … 16,873 19,164 29,080 34,175 17,047 19,338 29,297 34,383 65.8

1956 … … 18,270 20,723 29,639 34,738 18,499 20,952 29,930 35,026 67.3

1957 … … 19,377 21,920 30,222 35,433 19,626 22,169 30,533 35,740 68.6

1958 … … 20,206 22,843 30,146 35,532 20,499 23,136 30,542 35,928 69.6

1959 … … 21,260 24,073 31,200 36,965 21,522 24,335 31,553 37,319 72.4

1960 … … 22,642 25,527 32,652 38,714 22,875 25,760 32,960 39,015 75.8

1961 … … 24,233 27,267 33,826 40,016 24,487 27,521 34,161 40,346 78.0

1962 … … 25,294 28,565 34,161 40,376 25,628 28,899 34,606 40,820 79.3

1963 … … 26,894 30,352 35,529 41,994 27,292 30,750 36,048 42,513 82.4

1964 … … 29,255 33,176 37,678 44,449 29,648 33,569 38,174 44,945 86.2

1965 … … 31,237 35,625 38,633 45,431 31,672 36,060 39,176 45,974 88.9

1966 … … 33,139 37,994 39,402 46,320 33,526 38,381 39,878 46,796 90.6

1967 … … 34,956 40,145 40,401 47,516 35,335 40,524 40,862 47,977 92.3

1968 … … 37,475 43,383 41,864 49,142 37,810 43,718 42,231 49,509 95.3

1969 … … 39,386 46,320 42,452 49,704 39,885 46,819 42,986 50,238 97.4

1970 … … 43,252 50,785 43,252 50,785 43,809 51,342 43,809 51,342 100.0

1971 … … 48,787 56,660 44,216 52,033 49,298 57,171 44,707 52,524 102.1

1972 … … 54,679 62,787 44,954 53,374 55,259 63,367 45,504 53,924 105.2

1973 … … 62,925 71,483 47,334 56,317 64,321 72,879 48,419 57,402 109.8

1974 … … 72,625 81,032 47,797 56,703 73,977 82,384 48,528 57,434 105.0

402W 403W

§ Mr. Michael Marshall
asked the Chancellor of the Exchequer whether he will list in the Official Report the gross national product for each of the last 30 years; the total revenue raised in taxation for each of those years; and the Budget surplus or deficit for each of those years.

§ Mr. Denzil Davies
Figures from 1946 are given in the table below. Total revenue raised from taxation is taken as the central Government's revenue from taxes on income and expenditure. The central Government's borrowing requirement, figures for which are not available before 1952, represents the net balance of the central Government's current and capital expenditure less revenue and certain capital receipts.

CENTRAL GOVERNMENT

£ million

Gross national product Taxes on income and expenditure Borrowing requirement^*

1946 8,888 3,031 —

1947 9,491 3,015 —

1948 10,527 3,303 —

1949 11,144 3,458 —

1950 11,755 3,534 —

1951 12,985 3,826 —

1952 14,046 4,067 606

1953 15,110 4,041 527

1954 15,980 4,180 203

1955 17,047 4,487 446

1956 18,499 4,625 51

1957 19,626 4,932 171

1958 20,499 5,103 80

1959 21,522 5,231 156

1960 22,875 5,332 307

1961 24,487 5,874 220

1962 25,628 6,418 -79

1963 27,292 6,398 148

1964 29,648 6,869 434

1965 31,672 7,758 610

1966 33,526 8,503 543

1967 35,335 9,629 1,155

1968 37,810 10,920 757

1969 39,885 12,465 -897

1970 43,809 14,029 -670

1971 49,298[...] 14,700 634

1972 55,259 15,031 1,612

1973 64,321 16,585 2,383

1974 73,977 20,501 3,544

^* A positive sign represents a deficit, reflected in borrowing.

Source: National Income and Expenditure 1964–74 Bank of England.

£ million
			Gross domestic product	Gross national product
			At current prices	At 1970 prices	At current prices	At 1970 prices
Year	Factor cost	Market prices	Factor cost	Market prices	Factor cost	Market prices	Factor cost	Market prices	National disposable income at 1970 market prices Index 1970=100
1946	…	…	8,803	9,989	N.A.	N.A.	8,888	10,074	N.A.	N.A.	N.A.
1947	…	…	9,341	10,684	N.A.	N.A.	9,491	10,834	N.A.	N.A.	N.A.
1948	…	…	10,292	11,729	23,474	27,652	10,527	11,964	23,919	28,102	54.4
1949	…	…	10,925	12,388	24,204	28,483	11,144	12,607	24,605	28,888	56.2
1950	…	…	11,359	12,943	24,998	29,387	11,755	13,339	25,659	30,060	58.0
1951	…	…	12,643	14,437	25,902	30,453	12,985	14,779	26,322	30,876	57.7
1952	…	…	13,794	15,659	25,905	30,400	14,046	15,911	26,214	30,704	58.9
1953	…	…	14,881	16,873	27,122	31,810	15,110	17,102	27,430	32,116	61.8
1954	…	…	15,730	17,800	28,103	33,012	15,980	18,050	28,443	33,350	64.0
1955	…	…	16,873	19,164	29,080	34,175	17,047	19,338	29,297	34,383	65.8
1956	…	…	18,270	20,723	29,639	34,738	18,499	20,952	29,930	35,026	67.3
1957	…	…	19,377	21,920	30,222	35,433	19,626	22,169	30,533	35,740	68.6
1958	…	…	20,206	22,843	30,146	35,532	20,499	23,136	30,542	35,928	69.6
1959	…	…	21,260	24,073	31,200	36,965	21,522	24,335	31,553	37,319	72.4
1960	…	…	22,642	25,527	32,652	38,714	22,875	25,760	32,960	39,015	75.8
1961	…	…	24,233	27,267	33,826	40,016	24,487	27,521	34,161	40,346	78.0
1962	…	…	25,294	28,565	34,161	40,376	25,628	28,899	34,606	40,820	79.3
1963	…	…	26,894	30,352	35,529	41,994	27,292	30,750	36,048	42,513	82.4
1964	…	…	29,255	33,176	37,678	44,449	29,648	33,569	38,174	44,945	86.2
1965	…	…	31,237	35,625	38,633	45,431	31,672	36,060	39,176	45,974	88.9
1966	…	…	33,139	37,994	39,402	46,320	33,526	38,381	39,878	46,796	90.6
1967	…	…	34,956	40,145	40,401	47,516	35,335	40,524	40,862	47,977	92.3
1968	…	…	37,475	43,383	41,864	49,142	37,810	43,718	42,231	49,509	95.3
1969	…	…	39,386	46,320	42,452	49,704	39,885	46,819	42,986	50,238	97.4
1970	…	…	43,252	50,785	43,252	50,785	43,809	51,342	43,809	51,342	100.0
1971	…	…	48,787	56,660	44,216	52,033	49,298	57,171	44,707	52,524	102.1
1972	…	…	54,679	62,787	44,954	53,374	55,259	63,367	45,504	53,924	105.2
1973	…	…	62,925	71,483	47,334	56,317	64,321	72,879	48,419	57,402	109.8
1974	…	…	72,625	81,032	47,797	56,703	73,977	82,384	48,528	57,434	105.0

CENTRAL GOVERNMENT
			£ million
	Gross national product	Taxes on income and expenditure	Borrowing requirement^*
1946	8,888	3,031	—
1947	9,491	3,015	—
1948	10,527	3,303	—
1949	11,144	3,458	—
1950	11,755	3,534	—
1951	12,985	3,826	—
1952	14,046	4,067	606
1953	15,110	4,041	527
1954	15,980	4,180	203
1955	17,047	4,487	446
1956	18,499	4,625	51
1957	19,626	4,932	171
1958	20,499	5,103	80
1959	21,522	5,231	156
1960	22,875	5,332	307
1961	24,487	5,874	220
1962	25,628	6,418	-79
1963	27,292	6,398	148
1964	29,648	6,869	434
1965	31,672	7,758	610
1966	33,526	8,503	543
1967	35,335	9,629	1,155
1968	37,810	10,920	757
1969	39,885	12,465	-897
1970	43,809	14,029	-670
1971	49,298[...]	14,700	634
1972	55,259	15,031	1,612
1973	64,321	16,585	2,383
1974	73,977	20,501	3,544
^* A positive sign represents a deficit, reflected in borrowing.