HC Deb 13 November 1974 vol 881 c134W
Mr. Rost

asked the Secretary of State for the Environment what is the current level of total net borrowings of local authorities; by how much it is expected to increase during the current financial year; what proportion has been borrowed in foreign currency since March 1973; and what is the estimated interest during the current year payable on total net borrowings.

Mr. Oakes

Exact figures are not available but the outstanding debt of local authorities in England and Wales at 31st March 1974 is about £18,000 million and it is estimated that it will have increased to £19,5043 million by 31st March 1975. Of this sum £500 million has been raised in foreign currency since March 1973. The interest payable during the current year is estimated to be £1,880 million.

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