HC Deb 10 July 1978 vol 953 cc404-5W
Mr. George Gardiner

asked the Chancellor of the Exchequer of he will publish a table, arranged in descending order of magnitude, of the percentage change in gross domestic product or constant market prices between 1973 and 1977 in the United Kingdom, the United States of America, Canada, France, Italy, West Germany, and Japan.

Mr. Denzil Davies

Following is the available information:

GROSS DOMESTIC PRODUCT AT CONSTANT 1970 MARKET PRiCES
Percentage change between 1973 and 1977
Total
Japan(1) 12.8
Canada(1)(2) 12.8
France n.a.
United States of America(')(3) 8.3
Italy 8.2
West Germany(1) 5.9
United Kingdom 0.1
(1) Gross national product at constant market prices.
(2) At 1971 prices.
(3) At 1972 prices.
Sources: For countries except West Germany and the United Kingdom
—OECD Quartely National Accounts Bulletin.
For West Germany—OECD Main Economic Indicators
For United Kingdom—latest published estimates.

The data have not been standardised to international definitions; but differences in definitions, including thse choice of base year for constant price data, are unlikely to have an appreciable effect on the comparibility of growth rates over this period.

Mr. Tebbit

asked the Chancellor of the Exchequer if he will publish a table showing the cumulative increases and the average annual rates of increase in gross domestic product in the following periods: (a) July 1945 to October 1951, (b) October 1951 to October 1964, (c) October 1964 to June 1970, (d) June 1970 to February 1974 and (e) February 1974 to the latest available date.

Mr. Denzil Davies

The figures contained in the table below are based on the

GROSS DOMESTIC PRODUCT AT 1970 FACTOR COST
Percentage increases
Average measure Output measure
Total Average annual rate Total Average annual rate
1948–51 9.9 3.2 9.3 3.0
1951–64 43.7 2.8 42.5 2.8
1964 Q4–1970 Q2 14.8 2.5 12.6 2.2
1970 Q2–1974 Q1 4.8 1.3 7.7 2.0
1974 Q1–1978 Q1 6.7 1.6 4.2 1.0

The large differences between the average and output measures of the changes in the periods preceding and following the first quarter of 1974 are largely due to the distortions to the figures caused by the three-day working week and power restrictions in that quarter.

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