§ Mr. Clemitsonasked the Chancellor of the Exchequer what was the percentage increase in the money supply in the United Kingdom in each of the past five years; and what the corresponding figures were, using a similar definition of money supply, for each of the other member countries of the EEC.
§ Mr. Denzil DaviesFollowing is the information: 259W
Percentage change over year to: Belgium Denmark Germany Netherlands France Ireland Italy United Kingdom December 1972 … … … … … … 17.0 15.0 14.3 11.9 18.6 14.3 18.2 25.8 December 1973 … … … … … … 15.4 12.7 9.0 21.9 15.0 27.2 23.2 27.6 December 1974 … … … … … … 14.3 8.9 8.5 20.0 18.1 20.4 15.4 12.6 December 1975 … … … … … … 15.0 25.5 8.5 5.7 15.9 19.1 23.5 7.6 December 1976 … … … … … … 14.1 11.4 8.3 22.7 12.8 14.3 21.8 11.4 Notes:
1. Definitions: United Kingdom—Sterling M3, Germany—M3, Belgium, Denmark, Netherlands, France, Ireland and Italy—M2. These are the most closely related definitions available, but, given structural differences, they are not directly comparable.
2. End-December 1976 is the latest date for which data are available for all EEC countries.
3. Belgian currency circulates in Luxembourg; separate money supply figures for Luxembourg are not, therefore, available.
260W