§ Mr. Austin Mitchellasked the Chancellor of the Exchequer whether he will publish in the Official Report a table showing the change in the historical series in Economic Trends for the savings ratio and real disposable incomes; and whether the change in these series has any implication for the price and wage effect of changes in the exchange rate as shown in the Treasury model.
§ Mr. Bruce-GardyneRevisions to the historical series of estimates of personal disposable income, consumers' expenditure and hence the saving ratio are usually made in the April and October editions ofEconomic Trends as more accurate information on the components of these series becomes available. Details of such changes may be ascertained by reference to these publications.
In the Treasury model the main implications of these series is for the relationships for consumers' expenditure which play only a relatively minor and indirect role in the process by which wages and prices are affected by changes in the exchange rate.