Government Debt (Interest)

HC Deb 10 February 1977 vol 925 cc809-10W

Mr. John Moore

asked the Chancellor of the Exchequer what are the estimated interest payments by the United Kingdom on central Government debt in the fiscal years 1972–73, 1973–74, 1974–75, 1975–76, 1976–77, 1977–78, 1978–79, 1979–80, and 1980–81.

Mr. Joel Barnett

The central Government component of the debt interest figures in Cmnd 6721-I, is shown below:

		£ million at 1976 Survey Prices
		New basis	National income accounts basis
1972–73	…	194	2,987
1973–74	…	306	3,216
1974–75	…	370	3,149
1975–76	…	494	3,257
1976–77	…	1,300	4,000
1977–78	…	1,700	4,500
1978–79	…	1,800	4,700

The new basis figures include only debt interest paid from taxation or further borrowing.

Mr. Joel Barnett

An announcement will be made in due course.