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Mr. Edward Evans
asked the Economic Secretary to the Treasury whether he will revise the estimates of revenue and expenditure and surplus on current account of public authorities, as shown in Tables 24 and 25 of the Economic Survey, by giving figures for 1949 based on the Budget proposals.
Mr. Jay
The information is given in the following Tables:
| COMBINED CAPITAL ACCOUNT, 1948 AND 1949 | ||||||
| (TABLE 25 OF ECONOMIC SURVEY) | ||||||
| £million | ||||||
| — | Forecast for 1949 | — | Forecast for 1949 at end 1948 prices | |||
| 1948 | at 1948–49 tax rates | at 1949–50 tax rates | 1948 | |||
| Current Surplus of Public Authorities | 427 | 415 | 400 | Gross Capital Formation at Home | 2,352 | 2,330 |
| Transfers to private Capital Account | 179 | 185 | 185 | Plus External Investment (Foreign Balance) | 120 | — |
| Additions to Company Tax Reserves (1) | 165 | 140 | 90 | |||
| Depreciation Allowances | 825 | 900 | 950 | |||
| Undistributed Profits | 540 | 575 | 575 | |||
| Personal Savings (2) | 96 | 115 | 130 | |||
| 2,232 | 2,330 | 2,330 | 2,232 | 2,330 | ||
| (1) Revised as explained in note 26 on page 50 of Cmd. 7649, National Income and Expenditure of the United Kingdom, 1946 to 1948. | ||||||
| (2) The figures of personal savings are balancing items; that shown for 1949 is not a forecast but depends upon the assumptions made about the other items. | ||||||