§ Mr. ForthTo ask the Chancellor of the Exchequer if he will give, for the years 1980 to date, the national budget deficit as a percentage of the gross national product, for 159W the United Kingdom; and what equivalent information he has in relation to the United States of America, France, the Federal Republic of Germany and Japan.
General Government Financial Balances Surplus (+) or deficit (-) as a percentage of GNP 1980 1981 1982 1983 1984 1985 1986 United Kingdom -3.5 -2.8 -2.3 -3.4 -3.9 -2.9 -2.6 United States -1.3 -1.0 -3.5 -3.8 -2.8 -3.3 -3.5 Japan -4.4 -3.8 -3.6 -3.7 -2.1 -0.8 -0.9 Germany -2.9 -3.7 -3.3 -2.5 -1.9 -1.1 -1.2 France +0.2 -1.8 -2.8 -3.2 -2.7 -2.9 -3.0 Source: OECD.
Notes:
1. General Government covers central and local government but not public enterprises.
2. The Federal deficit, the more familiar concept for the United States, is higher (at 5 per cent. of GNP in 1986) than the general Government deficit because most of the individual states run surpluses on their own budgets. The PSBR, the main familiar concept for the United Kingdom, is lower (at 0.6 per cent. of GDP in 1986) than the general Government financial deficit, partly because of asset sales.
3. The figures are calculated on a standardised national accounts basis for Japan, Germany and France and on national definitions for the United States and United Kingdom.
4. Percentage of GDP (at market prices) for France and United Kingdom.