HC Deb 22 July 1977 vol 935 cc772-3W
Mr. Knox

asked the Chancellor of the Exchequer what proportion of the gross national product was represented by savings, industrial investment and public sector investment in 1958 and 1976; and, from information available from international sources, what are the equivalent figures for each of the other member countries of the EEC.

Mr. Denzil Davies

Estimates from international sources for years prior to 1960 are not available on a consistent basis with later periods, while details for 1976 have not yet been published. Estimates of national savings in 1960 and 1975 and industrial investment in 1975 expressed as a percentage of the national

National Savings
1960 1975 Industrial investment‡
Gross* Net† Gross* Net† 1975
Belgium … … … 19.2 10.2 22.1 14.2 7.1
Luxembourg … … … 34.8 24.1 26.7 15.2 8.9
Denmark … … … 21.8 15.2 16.7 7.5 N.A.
France. … … … 26§2 17.6 22.3 12.2 5.4
West German … … … 28.7 22.0 21.9 11.0 N.A.
Irish Republic … … … 15.8 10.3 17.5 11.4 N.A.
Italy … … … 24.7 17.6 19.8 10.8 6.8
Netherlands … … … 30.0 22.8 22.7 14.4 6.8
United Kingdom … … … 17.5 10.3 16.2 6.4 7.0
N.A.=Not available.
* Gross national saving as a percentage of gross national product.
† Net national saving, after providing for depreciation, as a percentage of net national product.
‡ Gross fixed capital formation by mining and quarrying, manufacturing, fuel and power and construction industries as a percentage of gross national product. The analysis of investment by industry is based on ownership of the assets.
§ Estimates for 1960 take account of revisions to national saving first published in 1977.
Sources:
National Accounts ESA Aggregates 1960–74, 1960–75; and detailed tables 1970–75.
Statistical Office of the European Comminities.

The international sources do not provide analyses of fixed investment in the public sector; and the analyses of industrial investment do not include figures for 1960.

For the United Kingdom, based on national statistics, public sector investment amounted to 6½per cent, and 8½ per cent, of gross national product at market prices in 1960 and 1975 respectively, and industrial investment to 6½ per cent, and 7 per cent, respectively. Since some public sector investment is industrial investment there is some overlap of these percentages.