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Public Expenditure

Volume 891: debated on Thursday 1 May 1975

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asked the Chancellor of the Exchequer if he will estimate what proportion of forecast gross national product at factor cost will be represented by the total of anticipated public expenditure during 1975–76, assuming that the rate of growth envisaged in the 1975–76 Financial Statement comes about.

Because of the uncertainties which underlie such projections, I am not prepared to publish a forecast of this proportion.