HC Deb 26 June 1978 vol 952 cc441-3W
Mr. Knox

asked the Chancellor of the Exchequer if he will publish a table showing for 1977 (a) the total overseas debt of the United Kingdom, (b) the total overseas debt of the United Kingdom per family and (c) the total overseas debt of the United Kingdom per capita.

Mr. Robert Sheldon

I assume that the hon. Member is interested in the total overseas debt of Her Majesty's Government and United Kingdom public sector bodies. Overseas debt, including both foreign currency borrowing and sterling debt, at the end of 1977 was £18,150

Mr. Denzil Davies,

pursuant to his reply [Official Report, 23rd June 1978], gave the following answer:

Following is the available information:

million, representing £325 per capita. Details of overseas debt were published in the June 1978 issue of the Bank of England Quarterly Bulletin in an article entitled "An inventory of UK external assets and liabilities: end-1977". Estimates of total debt per family, or per household, have not been provided as this would require allocation between the household and non-household population on some arbitrary basis.

Mr. Wyn Roberts

asked the Chancellor of the Exchequer (1) what is the total amount of foreign debt, net of repayment but not of interest charges, incurred between February 1974 and the latest date for which figures are available;

(2) what is the total amount of foreign debt, net of repayments but not of interest charges, incurred between February 1975 and the latest date for which figures are available.

Mr. Robert Sheldon

The total amount of overseas borrowing incurred by Her Majesty's Government and the rest of the public sector, net of repayments of principal on that borrowing, but not of interest charges was $17,294 million from February 1974 to 23rd June 1978 inclusive. The comparable figure for net borrowing since February 1975 was $12,548 million. These figures take account of all early repayment of loans drawn down in the periods in question. Debt denominated in currencies other than dollars has been converted to dollars at the exchange rates of 19th June.