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Income And Expenditure (Public Sector)

Volume 934: debated on Wednesday 29 June 1977

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asked the Chancellor of the Exchequer if he will publish a table showing public sector expenditure and receipts for each of the last four years in current prices, distinguishing between public consumption and gross capital formation and between social security contributions and taxes, showing the resulting financial balance, and expressing

PUBLIC SECTOR ACCOUNTS
Receipts
£ million
1973–741974–751975–761976–77*
General Government:
Current receipts
Taxes19,86524,99331,90836,810
National insurance etc. contributions4,0995,4097,1748,827
Interest and dividends from public corporations9481,1611,3891,583
Other receipts2,2012,6033,2123,644
Total27,11334,16643,68350,864
Capital receipts
Current surplus1,37638280238
Taxes835851844880
Financial deficit2,7994,4095,6915,652
Total5,0105,6426,6156,770
Public corporations:
Gross trading surplus, rents and other non-trading income2,4533,1113,6165,055
Capital transfers from:
General Government123234290325
Other25344260
Financial deficit8792,1512,8042,222
Total3,4805,5306,7527,662
Public sector financial deficit:
General government (from above)2,7994,4095,6915,652
Public corporations (from above)8792,1512,8042,222
Total3,6786,5608,4957,874
Total, per cent. of GDP at market prices5·17·57·86·3
Expenditure
£ million
1973–741974–751975–761976–77*
General Government:
Current expenditure
General Government consumption13,94918,21723,74727,161
Debt interest2,9753,5924,4745,701
Other current expenditure8,81311,97515,38217,764
Total current expenditure25,73733,78443,60350,626
Current surplus1,37638280238
Total27,11334,16643,68350,864
Capital expenditure
Gross domestic capital formation†4,0624,4325,3825,274
Capital grants to public corporations123234290325
Other capital expenditure8259769431,171
Total5,0105,6426,6156,770
Public corporations:
Interest and dividends to:
General Government9481,1611,3891,583
Other305485536804
Taxes1110910
Gross domestic capital formation†2,2163,8744,8185,265
Total3,4805,5306,7527,662
* Preliminary estimates.
† Including stockbuilding.

that financial balance at a percentage of gross domestic product.