§ Mr. Arnoldasked the Secretary of State for Foreign and Commonwealth Affairs if he will make a statement on the future funding of the BBC external services.
§ Mr. LuceI should draw my hon. Friend's attention to the answer given on 12 July to a question by my right hon. and learned Friend the Member for Hexham (Mr. Rippon). — [Vol. 45, c. 332.] The BBC external
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Level of the Velocity of Circulation of Money*† in the United Kingdom and major overseas economies (Fourth quarter figures) UK Canada USA Japan Germany France Italy 1973 2.56 2.52 1.59 1.26 2.34 2.12 1.09 1974 2.72 2.40 1.62 1.32 2.29 2.04 1.14 1975 3.13 2.37 1.58 1.26 2.24 2.01 1.04 1976 3.35 2.24 1.52 1.24 2.25 2.07 1.12 1977 3.54 2.13 1.54 1.24 2.16 2.01 1.06 1978 3.53 2.01 1.64 1.20 2.110 2.06 1.04 1979 3.76 1.93 1.67 1.18 2.16 2.06 1.07 1980 3.57 1.89 1.68 1.19 2.11 2.07 1.14 1981 3.39/3.09‡ 1.89 1.67 1.13 2.12 2.15 1.24 1982 3.07 1.90 1.59 1.10 2.03 2.14 1.22 Notes: * Figures not directly comparable; overseas aggregates include residents foreign currency holdings which reduce their velocity measure relative to that of United Kingdom. †Nominal GNP/GDP divided by broad money supply measure. ‡Break in United Kingdom data from 1981 Q4 with the introduction of the monetary sector. services will continue to be funded by direct grant-in-aid, the level of which will be determined by our financial policies.