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Money Supply

Volume 931: debated on Saturday 5 March 1977

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asked the Chancellor of the Exchequer what was the percentage increase in the money supply in the United Kingdom in each of the past five years; and what the corresponding figures were, using a similar definition of money supply, for each of the other member countries of the EEC.

Following is the information:

Percentage change over year to:BelgiumDenmarkGermanyNetherlandsFranceIrelandItalyUnited Kingdom
December 197217·015·014·311·918·614·318·225·8
December 197315·412·79·021·915·027·223·227·6
December 197414·38·98·520·018·120·415·412·6
December 197515·025·58·55·715·919·123·57·6
December 197614·111·48·322·712·814·321·811·4


1. Definitions: United Kingdom—Sterling M3, Germany—M3, Belgium, Denmark, Netherlands, France, Ireland and Italy—M2. These are the most closely related definitions available, but, given structural differences, they are not directly comparable.

2. End-December 1976 is the latest date for which data are available for all EEC countries.

3. Belgian currency circulates in Luxembourg; separate money supply figures for Luxembourg are not, therefore, available.