HC Deb 23 February 1976 vol 906 cc67-8W
Mr. Ridley

asked the Chancellor of the Exchequer whether he has estimated the level of savings in aggregate and by persons, individuals and the public sector in preparing the projections of growth and use of resources in the 1976 White Paper; and if he will publish these estimates in constant prices or as a percentage of GDP or GNP.

Mr. Joel Barnett

The resources table is designed to show the growth of real resources available, and the various claims on them. It assumes that demand management will equate the supply and demand for resources, so that any excess or shortfall of private sector savings will be offset. Any projection of desired savings is subject to very large margins of error. It is Government policy to encourage savings in the longer term in order to minimise the necessary burden of taxation.