1. Income, output and productivity
The figures in the following table update the series shown in Table 13 of the 1971 Annual Review White Paper and incorporate revisions to the figures in the earlier years:
| ALL COMMERCIALLY SIGNIFICANT HOLDINGS | ||||||||
| June-May years | ||||||||
Net Income at current prices
| Net Product at constant prices
| Labour Productivity
| ||||||
Year
| Actual
| 3-year moving average
| Index
| Index
| ||||
£m.
| £m.
| Average of 1964/65–1966/67 = 100
| ||||||
| 1967–68 | … | … | … | … | 527 | 501 | 107 | 116 |
| 1968–69 | … | … | … | … | 490 | 528 | 100 | 114 |
| 1969–70 | … | … | … | … | 567 | 556 | 105 | 124 |
| 1970–71 | … | … | … | … | 611 (612*) | 615 | 111 | 135 |
| 1971–72 (forecast) | … | … | 668 (630*) | — | 116 | 143 | ||
* Adjusted to normal weather conditions. | ||||||||
2. Gross capital formation
Year
| In plant, machinery and vehicles
| In buildings and works
| Stock valuation changes
| Total
| ||||
£m.
| £m.
| £m.
| £m.
| |||||
| 1967 | … | … | … | … | 111 | 75 | 37 | 223 |
| 1968 | … | … | … | … | 123 | 87 | 52 | 262 |
| 1969 | … | … | … | … | 113 | 97 | 70 | 280 |
| 1970 | … | … | … | … | 118 | 110 | 114 | 342 |
| 1971 (forecast) | … | … | … | 127 | 135 | 125 | 387 | |
3. Aggregate cost changes
| Net change for all products | … | +£56½ million. |
| Net change on guaranteed production | … | +£48 million. |
4. Exchequer support for agriculture
The cost to public funds of agricultural support in 1972–73 was review at £341 million.