§ Mr. Gowasked the Chancellor of the Exchequer what percentage of public expenditure and of GDP was represented by debt interest in each of the seven years ended 5th April 1976; and what was the amount of that interest in each of these years.
§ Mr. Denzil DaviesThe information which follows relates to interest on the debt of the public sector, including local authorities and public trading enterprises.
PUBLIC SECTOR DEBT INTEREST As percentage of public expenditure As percentage of GDP Value £ million 1969–70 … 10.3 5.1 2,066 1970–71 … 9.4 4.8 2,129 1971–72 … 9.2 4.5 2,298 1972–73 … 8.8 4.4 2,507 1973–74 … 9.5 5.1 3,268 1974–75 … 8.9 5.1 4,008 1975–76 … 8.5 5.0 4,847