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Chapter III. Details of Demand

Published online by Cambridge University Press:  26 March 2020

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Abstract

This chapter provides some detailed background material on the various categories of expenditure and on the balance of payments.

Type
Research Article
Information
National Institute Economic Review , Volume 39 , February 1967 , pp. 31 - 43
Copyright
Copyright © 1967 National Institute of Economic and Social Research

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References

note (1) page 34 These smaller markets (‘other sterling area countries’ in table 15) are taken to include Rhodesia for the sake of com parability with past figures.

note (1) page 35 The figures may have been inflated by the desire to obtain planning permission (for which an Industrial Development Certificate is required) before the Lands Commission Act comes into force.

note (1) page 37 This is a much lower rise than is implied by the figures in the Treasury's capital investment programme for 1967/68, which would suggest an increase of the order of 15 per cent. The recent level of starts does not seem to justify such a large increase.

note (2) page 37 Hansard, Thursday, 16th February 1967, Written answers, cols. 165-7.

note (1) page 38 Car prices (including tax) are much lower, in relation to 1958, than those of other goods. When, therefore, in any quarter there is a big drop in the proportion of consumer spending which goes on cars, and consequently a rise in the proportion which goes on other goods, this by itself—even if there are no price changes in that quarter at all—has the effect of raising the consumer price index. Between the second and fourth quarters of 1966, the sharp drop in spending on cars may have added as much as 0.8 points to the change in the consumer price index; as spending on cars recovers this year, the effect will be reversed.

note (1) page 43 National Institute Economic Review No. 38, page 8.