^{page 8 note (1)} In the sense that the figures are such that the probabilities are roughly equal that the outcome will be above or below the figures shown.

^{page 10 note (1)} See National Institute Economic Review no. 64, May 1973, page 11.

^{page 15 note (1)} The tax cut is masked this year by the switch to paying tax on earned income currently rather than in arrears as under the old surtax system; hence the effect on payments is not seen until next year. We have made no allowance for any changes in the recorded tax figures which may occur as a result of the switch this year to the imputation corporation tax system. Assuming a corporation tax rate of 50 per cent, we estimate that the demand effect of the changeover will be very small.

^{page 15 note (2)} Putting the discrepancy between output and expenditure into stockbuilding.

^{page 17 note (1)} The implicit price deflator of the constant price series of consumers' expenditure. Because of the lower weight given in this index to such items as food it has recently been rising rather more slowly than the better known retail price index.

^{page 17 note (2)} Assuming that other (competitor) countries do not react to the rise in world prices to the same degree. In any case the rise in the UK's import prices so far has been among the most severe.

^{page 18 note (1)} See note to table 10.

^{page 20 note (1)} See National Institute Economic Review, no. 63, February 1973, page 51.

^{page 21 note (1)} The major participants are West Germany and France with the Netherlands, Spain and Britain (represented by Hawker-Siddeley) making minor contributions.

^{page 22 note (1)} Lockheed have 117 firm orders and 82 options for the three engined Tristar.

^{page 23 note (1)} The likely impact of the new arrangements is discussed in an article on paper and board by G. F. Ray and S. W. Davies in National Institute Economic Review, no. 62, November 1972, pages 44-58.

^{page 23 note (2)} See page 12 above.