By R. Allen
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Extra info for An Introduction to National Accounts Statistics
9). 4 Mining, manufacturing, construction, gas, electricity and water. 5 Public administration, defence, public health and education. 7). n FIG. 5 GDP at factor cost 1978 starts with what is by far the largest component: employment income in the form ofwages, salaries and pay ofHM Forces. 7 below). Aseparate figure can be got for HM Forces pay but it is no longer practicable to distinguish wages from salaries. Next, the mixed category of selfemployment income is the sum of the incomes of three rather different groups: Main Aggregates: Methods 29 Farmers: all commercial holdings including agricultural companies.
Imputed and actual rents alike appear under 'rent' in the income box of Fig. 5. There remains other owner-occupied non-trading property, a large group of properties such as schools, hospitals, town halls, university buildings and properties of charities. These used to be treated like dwellings and imputed rents estimated. Present practice is to ignore the rent income which miglit be thought to arise from the ownership of such properties - not a very meaningful concept. Instead an imputed charge for capital consumption is estimated and added to an incbme measure of GDP.
4, for 1975 and 1978. 3 Corporate sector: appropriation account [, millions at current % share prices Income Gross trading profits' Rent and non-trading income Income form abroad 2 Total 1975 1978 1975 1978 13239 22467 61·0 63·6 6081 2370 8825 4043 28·0 10·9 25·0 1l·4 21690 35335 100·0 100·0 Expenditure Dividends and interest paid Current transfers to charities Profits due abroad 3 Taxes on income Balance: saving' 8086 10558 37-3 29·9 42 627 2297 10638 44 2002 3807 18924 0·2 2·9 10·6 49·0 0·1 5·7 10·8 53-6 Total 21690 35335 100·0 100·0 NOTES 1 2 3 4 Before stock appreciation.
An Introduction to National Accounts Statistics by R. Allen