HC Deb 21 March 1974 vol 870 cc1307-8
9. Mr. Dalyell

asked the Chancellor of the Exchequer what was the level of the public sector borrowing requirement on his assumption of office.

Mr. Dell

The latest full figures available cover the first half of the current financial year, when the public sector borrowing requirement amounted to £2,932 million. An estimate of the outturn for the whole financial year will be given in the Financial Statement and Budget Report.

Mr. Dalyell

Has any incoming Government inherited debt of this order since the first administration of Cardinal Morton and Henry VII?

Mr. Dell

I remember Cardinal Morton and Henry VII very well, but I can assure my hon. Friend that Cardinal Morton did not inherit a problem like this.

Mr. Ridley

How much have the Government already added to the borrowing requirement by their profligate use of subsidies all round?

Mr. Dell

The hon. Gentleman must know that he must wait for my right hon. Friend's Budget Statement.

Mr. Nott

Is the right hon. Gentleman aware that the borrowing requirement has been substantially increased by giving the Financial Secretary an increase of more than £40 per week in his salary? If the Government are pursuing voluntary restraint in incomes, why should the Financial Secretary's remuneration be increased by over £40 per week when the Government came to office.

Mr. Dell

If the hon. Gentleman averages this out with the salary of my right hon. Friend the Chancellor of the Duchy of Lancaster, he will be satisfied.