HC Deb 23 March 1979 vol 964 c145W
Mr. Powell

asked the Chancellor of the Exchequer what was the percentage increase in money supply in the United Kingdom, West Germany and Switzerland, between November 1974 and November 1975 and between November

Percentage increase in money supply November 1974 to November 1975 Percentage increase in inflation November 1976 to November 1977
M1 M3—M2
United Kingdom* 15.5 7.7 13.0
West Germany 15.1 −0.4 3.7
Switzerland 6.3 14.3 1.
Percentage increase in money supply November 1975 to November 1976 Percentage increase in inflation November 1977 to November 1978
M1 M3—M2
United Kingdom* 13.7 11.4 8.1
West Germany 7.3 8.9 2.3
Switzerland 6.9 14.1 0.7
* Banking months.

Sources:

United Kingdom—Bank of England and Economic Trends—retail price index.

West Germany—Bundesbank and main economic indicators—consumer price index.

Switzerland—main economic indicators.

Note: Figures are given for both a narrowly and a broadly defined money supply aggregate. M2 is the nearest equivalent aggregate to sterling M3 in Switzerland and West Germany. Differences in national definitions, reflecting differences in financial structures, however, mean that these comparisons cannot be exact.