§ Mr. Loveridgeasked the Chancellor of the Exchequer if he will list in the Official Report the figure for M3 at each year end since 1950, and also the annual gross domestic product figure for the same dates; and if he will also list in the table the percentage of M3 in relation to the gross domestic product for each year end.
§ Mr. Lawson[pursuant to his reply, 13 April 1981, c. 10]:
M3 and GDP Year M3 at end of year (£ million) GDP* during year (£ million) MS as a percentage of GDP 1950 — 12,970 — 1951 8,212 14,473 57 1952 8,447 15,701 54 1953 8,714 16,910 52 1954 8,982 17,831 50 1955 8,734 19,196 45 1956 8,815 20,754 42 1957 9,043 21,947 41 1958 9,317 22,864 41 1959 9,895 24,071 41 1960 10,077 25,522 39 1961 10,339 27,262 38 1962 10,614 28,555 37 1963 11,516 30,371 38 1964 12,155 33,131 37 1965 13,083 35,607 37 1966 13,555 37,992 36 1967 15,003 40,131 37 1968 16,092 43,490 37 1969 16,596 46,573 36 1970 18,175 51,063 36 1971 20,541 57,291 36 1972 26,245 63,403 41 1973 33,478 72,936 46 1974 37,698 82,878 45 1975 40,573 104,413 39 1976 45,129 124,291 36 1977 49,565 143,021 35 1978 56,964 163,923 35 1979 63,996 190,407 34 1980 75,809 223,048 34 * GDP at current market prices, expenditure based. The figures for M3—and for M3 as a percentage of GDP—before 1963 are less reliable than those for more recent years. Figures for M3 before 1951 are not available.