§ Mr. Austin Mitchellasked the Chancellor of the Exchequer whether he will publish in the Official Report a table showing the composition of sterling M3 in notes and coin, current accounts, retail seven-day deposits and wholesale deposits plus the ratio of building society deposits and trustee savings bank/national savings bank deposits, for 1978–79.
§ Mr. LawsonIt is not clear which ratio the hon. Member requires. Changes in the various aggregates during the financial year 1978–79 were as follow:
£ million Table reference in Financial Statistics Sterling M3 5,286 7.2 Building society deposits 4,699 8.6 Trustee savings banks— Ordinary deposits –70 3.14 New deposits 531 8.2 National savings bank— Ordinary account 129 3.14 Investment account –244 8.3 Components of sterling M3 are shown in tables 7.1 and 7.2 of Financial Statistics. Data on retail and wholesale bank deposits are not collected because of difficulties in arriving at a generally acceptable definition.