§ Mr. Austin Mitchellasked the Chancellor of the Exchequer whether he will publish in the Official Report a table showing for each year since 1948 personal savings as a percentage of personal income and as a percentage of gross national product.
§ Mr. BiffenThe latest estimates of personal saving as a percentage of personal disposable income on an annual basis in the period 1948 to 1972 are given on page 18 of the 1980 edition of the annual supplement toEconomic Trends. Corresponding figures for the years 1973 to 1979 are given on page 10 of the April 1980 edition of Economic Trends.
Personal saving as a percentage of gross national product at factor cost in each year from 1948 to 1979 is given in the table below :
Personal saving* as a percentage of gross national product at factor cost† 1948 0.1 1949 0.7 1950 1.1 1951 1.2 1952 2.7 1953 3.1 1954 2.4 1955 2.8 1956 4.1 1957 3.7 1958 3.2 1959 3.8 1960 5.6 1961 7.1 1962 5.9 1963 6.0 1964 6.4 1965 7.0 1966 7.2 1967 6.7 1968 6.0 1969 6.2 1970 7.0 1971 6.1 1972 7.5 1973 8.6 1974 11.3 1975 11.1 1976 10.4 1977 10.3 1978 11.1 1979 12.9 * Before providing for depreciation, stock appreciation and additions to tax reserves. † Income-based. Personal saving is defined as in the United Kingdom national accounts, that is 26W as the difference between personal disposable income and consumers' expenditure.