HC Deb 11 April 1975 vol 889 cc496-7W
Mr. Skeet

asked the Chancellor of the Exchequer if he will list the total Government borrowing from overseas sources since October 1974 and the annual cost of servicing such loans.

Mr. Dell

I assume that the hon. Member has in mind Her Majesty's Government's foreign currency load of $2-5 billion, which was wholly drawn between October 1974 and February 1975. It is not possible to give a precise figure for the annual servicing cost since this loan is on a floating rate basis, with different rates applicable to different tranches. In broad terms, however, the cost of servicing the loan, at present interest rates, will amount to some $200 million per annum.