HC Deb 20 November 1979 vol 974 cc155-6W
Mr. Austin Mitchell

asked the Chancellor of the Exchequer whether he will publish in the Official Report a table showing for the principal exporting countries the annual increase in the money supply between 1952 and 1978 in the form of an index, or otherwise.

Mr. Lawson

Annual percentage increases in the money supply for the principal exporting countries—United States of America, Japan, United Kingdom, Germany, France and Italy—as well as for other countries, are tabulated in the International Financial Statistics Yearbook 1979 published by the International Monetary Fund—page 54. The figures are based on M1 for the United Kingdom and on comparable aggregates for other countries. Up to 1956 the increases are between levels at end-of-year. From 1957 they are between average levels in each year.

The table contains figures up to 1978 for the principal exporting countries except

Sterling appreciation (+) or depreciation (-) against
United States Dollar West German Mark Japanese Yen
Per cent. Per cent. Per cent.
(a) 2nd half of 1973 to 9 November 1979 -13.3 -36.9 -20.5
(b) 4th quarter of 1976 to 9 November 1979 +27.6 -5.1 +7.5
(c) 2 January 1979* to 9 November 1979 +3.1 +2.2 +31.5
* No rate for 1 January as the markets were closed.
INCREASES IN CONSUMER PRICE INDICES
United Kingdom United States of America West Germany Japan
Per cent. Per cent. Per cent. Per cent.
(a) 2nd half of 1973 to August 1979 140.9 62.6 30.9 68.3
(b) 4th quarter of 1976 to August 1979 39.3 27.3 11.1 12.3
(c) 1 January 1979 to August 1979 11.5 8.1 3.3 2.8
INCREASES IN RELATIVE NORMALISED UNIT LABOUR COSTS
United Kingdom United States of America West Germany Japan
Per cent. Per cent. Per cent. Per cent.
(a) 1973* to 1st quarter of 1979 +6.5 -15.5 +7.5 +29.5
(b) 4th quarter of 1976 to 1st quarter of 1979 + 17.8 -12.0 -3.2 +28.7
* Data for second half of 1973 not available.

Italy, for which the last figure given is for 1977. The figure to be inserted for Italy for 1978 is 23.8 per cent. The table gives figures back to 1952 or earlier for these countries except Japan, for which the series begins in 1954.

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