Income And Expenditure (Public Sector)

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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
	1973–74	1974–75	1975–76	1976–77^*
General Government:
Current receipts
Taxes	19,865	24,993	31,908	36,810
National insurance etc. contributions	4,099	5,409	7,174	8,827
Interest and dividends from public corporations	948	1,161	1,389	1,583
Other receipts	2,201	2,603	3,212	3,644
Total	27,113	34,166	43,683	50,864
Capital receipts
Current surplus	1,376	382	80	238
Taxes	835	851	844	880
Financial deficit	2,799	4,409	5,691	5,652
Total	5,010	5,642	6,615	6,770
Public corporations:
Gross trading surplus, rents and other non-trading income	2,453	3,111	3,616	5,055
Capital transfers from:
General Government	123	234	290	325
Other	25	34	42	60
Financial deficit	879	2,151	2,804	2,222
Total	3,480	5,530	6,752	7,662
Public sector financial deficit:
General government (from above)	2,799	4,409	5,691	5,652
Public corporations (from above)	879	2,151	2,804	2,222
Total	3,678	6,560	8,495	7,874
Total, per cent. of GDP at market prices	5·1	7·5	7·8	6·3

Expenditure
£ million
			1973–74	1974–75	1975–76	1976–77^*
General Government:
Current expenditure
General Government consumption	…	…	13,949	18,217	23,747	27,161
Debt interest	…	…	2,975	3,592	4,474	5,701
Other current expenditure	…	…	8,813	11,975	15,382	17,764
Total current expenditure	…	…	25,737	33,784	43,603	50,626
Current surplus	…	…	1,376	382	80	238
Total	…	…	27,113	34,166	43,683	50,864
Capital expenditure
Gross domestic capital formation†	…	…	4,062	4,432	5,382	5,274
Capital grants to public corporations	…	…	123	234	290	325
Other capital expenditure	…	…	825	976	943	1,171
Total	…	…	5,010	5,642	6,615	6,770
Public corporations:
Interest and dividends to:
General Government	…	…	948	1,161	1,389	1,583
Other	…	…	305	485	536	804
Taxes	…	…	11	10	9	10
Gross domestic capital formation†	…	…	2,216	3,874	4,818	5,265
Total	…	…	3,480	5,530	6,752	7,662
^* Preliminary estimates.
† Including stockbuilding.

that financial balance at a percentage of gross domestic product.

The table is below:

Volume 934: debated on Wednesday 29 June 1977