CAB129-45 — Page 53

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.