Public Sector Borrowing Requirement

HC Deb 29 April 1976 vol 910 c185W

Mr. Norman Lamont

asked the Chancellor of the Exchequer what percentage of gross domestic product will be represented by the public sector borrowing requirement forecast for 1976–77 in Table 7 of the most recent Financial Statement and Budget Report, assuming that the forecasts in Table 4 of the FSBR are realised.

Mr. Joel Barnett

The PSBR expressed as a percentage of GNP at factor cost is provisionally estimated to have been about 11¼ per cent. in 1975–76. The corresponding percentage indicated by the published forecasts for 1976–77 is lower.