§ Mr. Austin Mitchellasked the Chancellor of the Exchequer what has been the increase in the broad money supply since May 1979 in cash and in percentage terms; and how he estimates the additional money has been distributed.
§ Mr. Ian StewartFrom mid May 1979 to mid March 1986, £M3 increased by £69.1 billion, or by 123.0 per cent. (adjusted to take acccount of the revised definition of the monetary sector introduced in 1981).
Figures for £M3 held by various categories of holder are given in Financial Statistics, tables 14.1 to 14.4.
§ Mr. Austin Mitchellasked the Chancellor of the Exchequer what was the percentage increase in the supply of broad money in real terms between February 1974 and May 1979 and between May 1979 and the latest available date.
§ Mr. Ian StewartInformation on broad money and nominal GDP is available inEconomic Trends.
§ Mr. Austin Mitchellasked the Chancellor of the Exchequer if he will make a statement on the recent changes in the velocity of money; what effects the changes have had on the economy; and what plans he has for further controls.
§ Mr. Ian StewartI refer the hon. Member to the speech by my right hon. Friend the Chancellor of the Exchequer to the Lombard Association on 16 April, a copy of which has been deposited in the Library of the House.