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Gross National Product

Volume 889: debated on Monday 24 March 1975

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29.

asked the Chancellor of the Exchequer what has been the increase in gross national product of Great Britain, France, Germany and Italy, respectively, from 1958 to the latest date for which figures are available.

With permission, I will circulate the figures in the Official Report.

Is the Chief Secretary aware that the figures, which I presume he has studied, will show that the original Six have benefited enormously, particularly after the first few years of the Community? What evidence has he to show that this country will not benefit equally materially once we are able fully to take advantage of entry as a full member of the Community?

The hon. Gentleman has put a very complicated question. I hope that he will wait until he has seen the answer in the Official Report.

Following are the details:

The increases in gross national product at current market prices, from 1958 to 1973, measured in their own currencies on the internationally used definition are as follows:

Per Cent.

Equivalent annual rate (per cent.)

United Kingdom2097£8
West Germany2719£1
France36810£8
Italy32710£2

Estimates of gross national product at constant prices are not available internationally. The estimated annual rates of increase in gross domestic product at constant prices between 1958 and 1973 are as follows:

Per Cent.

United Kingdom3£1
West Germany5£0
France5£5
Italy5£3