National Expenditure
Table 24
Government current expenditure on
Page 53
£ million
53
1948
1949
1950
1951 Forecast
goods and services:
Defence...
Other
798
746
800
1,175
1,063
1,272
1,249
1,400
1,861
2,018
2,049
2,575
Gross investment at home:
Fixed investment
1,954
2,120
2,176
Increase in stocks and work in
2,375
progress
315
248
94
Strategic stockpiling
100
2,269
2,368
2,270
2,475
Net investment abroad
-80
-38
200
-100
Personal consumption
8,156
8,493
8,981
9,470
Gross national expenditure at
market prices
12,206
12,841
13,500
14,420
Revenue Account of Central Government
Table 25
Revenue
£ million
1949 1950
1951 Forecast
Expenditure
£ million
1949
1950
1951 Forecast
come:
Direct taxes on in-
Income tax and
surtax
Other
...
Direct taxes on
Current expenditure
on goods and
services:
1,4951,536
303
1,540
Defence
746
800
1,175
279
295
Other
738 699
810
National debt interest
533
557
595
capital:
Subsidies
480
439
435
Death duties and
Social security pay-
special contribu-
ments and other
tion
253 188
185
personal transfers
342
344
315
Indirect taxes:
Grants to
local
On drink and
authorities
331
347
380
tobacco
Other
1,000 988 673 749
Transfers to National
1,750
Insurance Funds
148
153
150
Income from pro-
War damage pay-
perty Contribution from
100 116
120
ments and other capital transfers...
234 136
120
National Insur-
ance Fund to National Health
Total current expen-
Service
41
40
40
diture Current surplus
3,552 3,475
313 421
3,980 -50
Total Revenue | 3,865 3,896 3,930
Current expenditure plus surplus or minus deficit
...
3,865 3,896
3,930
The Finance of Investment
Table 26
£ million
1948
1949
1950
1951 Forecast
Gross domestic investment
less Gifts and loans from abroad
2,269 -80
2,368 -38
2,270
2,475
200
-100
Totals sums required to be set aside at home
2,189
2,330
2,470
2,375
True revenue surplus in Budget of Central
Government(1)
266
313
421
-50
War damage payments and other transfers
from Central Government to private capital account
204
234
136
120
less Death duties and other taxes on capital
-214
-253
-188
--185
...
...
...
...
Personal saving required
Surplus of local authorities and National
Insurance Funds
Depreciation allowances
Increase in business tax reserves
Increase in company's free reserves:
Undistributed profits
less Stock appreciation
Total other than personal saving
Bagems Bectifed &7be set aside at home
2. Page 5379f 587
(1) These figures differ from the Exchequer figures used in the Budget Statements, not only because they refer to calendar years instead of to the fiscal years which start in April, but also because some additional items are included and some further items excluded under revenue and expenditure. A table showing the differences will be published in the White Paper on National Income and Expenditure.
125
189
196
165
803
985
1,070
1,100
178
-13
106
530
606
540
676
855
--140
-15
-240
-560
1,828
1,980
2,177
1,975
361
350
293
400
2,189
2,330
G.R.