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Mr. Lawson
asked the Chancellor of the Exchequer if he will publish a table showing the percentage growth on both M1 and £ sterling M3 in the year to mid-October 1978 and in each of the previous four years.
Mr. Denzil Davies
The information is as follows:
| PERCENTAGE GROWTH (SEASONALLY ADJUSTED) IN THE YEAR TO MID-OCTOBER | ||||||
| M1 | £M3 | |||||
| 1974 | … | … | … | … | 6·4 | 11·6 |
| 1975 | … | … | … | … | 17·6 | 9·6 |
| 1976 | … | … | … | … | 13·9 | 9·8 |
| 1977 | … | … | … | … | 19·2 | 7·9 |
| 1978 | … | … | … | … | 16·1 | 14·0 |