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Savings Ratio

Volume 973: debated on Tuesday 13 November 1979

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asked the Chancellor of the Exchequer what has been the annual increase since 1970 for each of the principal industrial countries, plus Canada and Sweden in the savings ratio; and how this compares with the increase in manufacturing output, the money supply and wholesale and retail prices.

ANALYSIS OF DEBT INTEREST FIGURES IN CMND. 7746
£ million, 1979 survey prices
1978–791979–801980–81
outturnprojectionprojection
Total public sector debt interest payments9,9009,9009,800
less:
Public corporations* debt interest payments to the private sector and overseas733600500
General government interest receipts from public corporations*, the private sector and overseas2,5132,6002,300
Interest provision from trading activities of certain public corporations† and general government3,4333,4003,400
Interest support costs300200400
equals:
Debt interest on a White Paper basis2,9213,1003,200
* Other than certain public corporations, listed on page 249 of Cmnd. 7439.
† Interest payments to general government and private sector and overseas.

asked the Chancellor of the Exchequer how much of the increase of £117 million, at 1979 survey prices, on expenditure on industry, energy, trade and employment is applicable separately to each of these items.

The information is as follows:

£ million at 1979 survey prices
Industry-63
Energy+10
Trade+149
Employment+21
As stated in Cmnd. 7746, the increase in trade follows the once-for-all reduction achieved in 1979–80 by the Trustee Savings Bank taking over some £200 million of outstanding refinance.

I regret that this information cannot be provided without a disproportionate expenditure of time and resources.