§ 4. Mr. Michael Shaw
asked the Chancellor of the Exchequer how much United Kingdom official medium and short-term overseas debt was outstanding at the end of September, 1970.
§ Mr. Macmillan
This reflects the very heavy burden of debt inherited by the 296 present Government. The levels of outstanding debt are lower. We have made some repayment and, although in the third quarter there was a slight increase in debt, it was a temporary setback. In the fourth quarter, we seem to be getting back to repaying the debt and continuing to improve the position.