§ Mr. Michael Meacherasked the Chancellor of the Exchequer what was the 458W level of gross domestic fixed capital formation for each year since 1945; what was the equivalent for each year at 1979 prices; and what was the percentage annual increase or decrease.
§ Mr. BiffenThe following table contains the available figures. The constant price figures are given in terms of 1975 prices since that is the year on which the national accounts constant price estimates are based.
TOTAL GROSS DOMESTIC FIXED CAPITAL FORMATION 1975 prices Current prices £ million £ million Percentage change compared with previous year 1948 1,426 6,217 1949 1,581 6,792 +9.2 1950 1,712 7,181 +5.7 1951 1,909 7,231 +0.7 1952 2,134 7,282 +0.7 1953 2,395 8,084 +11.0 1954 2,595 8,788 +8.7 1955 2,882 9,308 +5.9 1956 3,164 9,747 +4.7 1957 3,451 10,281 +5.5 1958 3,569 10,367 +0.8 1959 3,816 11,161 +7.7 1960 4,190 12,169 +9.0 1961 4,704 13,360 +9.8 1962 4,833 13,387 +0.2 1963 5,066 13,564 +1.3 1964 6,041 15,838 +16.8 1965 6,504 16,592 +4.8 1966 6,922 17,006 +2.5 1967 7,524 18,440 +8.4 1968 8,200 19,287 +4.6 1969 8,591 19,360 +0.4 1970 9,453 19,845 +2.5 1971 10,515 20,209 +1.8 1972 11,604 20,240 +0.2 1973 14,149 21,609 +6.8 1974 16,924 21,173 -2.0 1975 20,536 20,536 -3.0 1976 23,597 20,395 -0.7 1977 25,808 19,961 -2.1 1978 29,121 20,456 +2.5 Source: National accounts statistics.