§ Mr. Deakinsasked the Chancellor of the Exchequer what is the budget deficit in the United Kingdom as a 574W proportion of gross domestic product; and what are the comparable figures for the United States of America, West Germany and Japan.
§ Mr. BrittanInternational comparisons of budget deficits are usually based on the general Government financial deficit. On this basis as a percentage of the gross domestic product at market prices, the comparative information requested, is as follows:
1979 1980 *1981 †1982 †l983 ‡United Kingdon 3.2 3.3 2.3 2.2 1.9 ‡United States of America ║-0.5 1.2 0.9 3.6 4.0 West Germany 2.9 3.4 4.5 3.8 3.6 Japan 4.8 4.2 4.0 3.4 2.1 * OECD estimates except United Kingdom. † OECD forecasts. ‡ on a domestic national accounts basis. ║ Surplus. Sources: OECD Economic Outlook July 1982
Financial Statistics, November 1982
Economic Trends, November 1982