§ Mr. SalmondTo ask the Chancellor of the Exchequer what proportion of the current United Kingdom national debt was built up over the period 1978–79 to 1994–95; and what proportion of the current interest payments on debt are associated with the debt built up over that period. [61704]
§ Ms HewittThe National Debt rose by £270.3 billion between 31 March 1978 and 31 March 1995, and stood at £419.2 billion at 31 March 1998. Hence the proportion built up over this period is 64.5 per cent. Net public sector debt rose by £206 billion between 31 March 1978 and 31 March 1995 and stood at £352 billion at 31 March 1998. The proportion built up over the period is 58.5 per cent. The proportion of total debt interest payments incurred over the period can be estimated precisely but should be roughly similar to the proportion of debt.