asked the Secretary of State for Economic Affairs why "The Task Ahead", uses a different definition in Table 6.1 for the claims on resources for achieving the balance of payments target from the definition used in the comparable Table 1.1 of the National Plan; and if he will give comparable figures on both bases together with the actual change between 1964 and 1967.

Mr. Alan Williams:

The actual changes between 1964 and 1967, on both bases, are set out in a table to be circulated in the Official Report. It was decided to reduce the sub-divisions of

asked the Secretary of State for Economic Affairs in view of the fact that the period 1967 to 1972 covers three phases for the pattern of the use of resources in relation to the investment in table 6.1 to avoid unnecessary detail and to give more scope for variation in the light of the consultations with industry and, for these reasons, projections to 1972 on the National Plan basis are not given. The exclusion of investment income from the balance of trade in goods and services arises from the use of G.D.P. instead of G.N.P. as a measure of national output.

Do not these figures show that, if like were compared with like, the task of improving the balance of payments is very much greater now than in 1964? Is this not a damning indictment of the Government's economic policy?

Mr. Williams:

No, Sir. If like were compared with like, in 1964 we inherited a ramshackle economy with out-of-date industry. We now have a better industrial base on which to found our expansion, and devaluation has given us a competitive edge abroad.

Following is the Table:

period averages in Table 6.1 of "The Task Ahead," if he will sub-divide these projections to show the actual changes between 1967 and the latest available figures, the projected changes between then and 1970, and the changes between 1970 and 1972.

Mr. Alan Williams:

No, Sir. "The Task Ahead" is concerned with the changes that have to take place in the use of resources between now and 1972, but it does not attempt to predict the precise timing of their achievement. This will depend in large measure on the success by all concerned in improving the balance of payments.

Does not the presentation confuse past performance with present plans and future forecasts, and is not this designed to conceal the true size of the problem?

Mr. Williams:

Not to anyone who knows his way around an economic document.