HC Deb 16 January 1979 vol 960 cc722-6W
Mr. John Moore

asked the Chancellor of the Exchequer (1) if he will publish in theOfficial Reporta table showing for each year since 1945 (a) the total national debt, (b) the amount of the national debt that is held privately, (c) the total national debt per capita and (d) the amount of the national debt that is held privately per capita;

(2) if he will publish in theOfficial Reporta table showing for each year since 1945 in terms of 1977 prices (a) the total national debt, (b) the amount of the national debt that is held privately, (c) the total national debt per capita and (d) the amount of the national debt that is held privately per capita;

(3) if he will publish in theOfficial Reporta table showing (a) the increase in the total national debt and (b) the increase in the privately held part of the national debt in the following periods: 1945 to 1951, 1951 to 1964, 1964 to 1970, 1970 to 1973, and 1974 to the latest date for which information is available;

(4) if he will publish in the Official Report a table showing in terms of 1977 prices (a) the increase in the total national debt and (b) the increase in the privately held part of the national debt in the following periods; 1945 to 1951, 1951 to 1964, 1964 to 1970, 1970 to 1973, and 1974 to the latest date for which information is available.

Mr. Joel Barnett

It is convenient to answer these Questions together. The information requested is given in Tables 1 to 4 below. Statistics of the national

TABLE 1
NATIONAL DEBT AT CURRENT PRICES
(31st March each year)
National debt(£ million) National debt held privately*(£ million) National debt per capita £ National debt held privately per capita*£
National debt (£ million) National debt held privately*(£ million) National debt per capita£ National debt held privately per capita*£
1945 21,366 Not available 439 Not available
1946 23,637 15,206 486 312
1947 25,631 15,822 524 323
1948 25,621 16,197 518 328
1949 25,168 Not available 505 Not available
1950 25,802 Not available 510 Not available
1951 25,922 16,233 516 323
1952 25,891 Not available 513 Not available
1953 26,051 Not available 516 Not available
1954 26,583 Not available 524 Not available
1955 26,934 Not available 526 Not available
1956 27,039 17,378 527 338
1957 27,008 17,411 524 338
1958 27,232 18,058 526 349
1959 27,376 18,162 526 349
1960 27,733 18,229 529 348
1961 28,252 18,371 535 348
1962 28,674 18,375 538 345
1963 29,848 17,867 557 333
1964 30,226 17,806 561 330
1965 30,441 17,144 561 316
1966 31,341 17,324 575 318
1967 31,986 18,018 583 329
1968 34,194 18,398 621 334
1969 33,984 17,395 614 315
1970 33,079 17,954 596 324
1971 33,442 18,820 601 338
1972 35,840 21,632 642 388
1973 37,156 21,315 664 381
1974 40,458 22,695 722 405
1975 46,405 25,685 829 459
1976 56,584 34,020 1,011 608
1977 66,854 41,995 1,195 751
1978 79,180 48,706 1,417 871
*Up to 1962, total market holdings less holdings by local authorities, public corporations and overseas official holders; in 1963 and later years, also excludes overseas non-official holdings

debt are available only for 31st March in each year. The national debt relates only to the liabilities of the National Loans Fund, not to the debt of the whole central Government as defined in the national accounts, and it includes official holdings of central Government debt held by other central Government funds. The latter element, together with identified holdings by local authorities, public corporations and by the overseas sector, has been excluded from the estimates of national debt held privately.

TABLE 2
NATIONAL DEBT AT 1977 PRICES*
(31st March each year)
National debt (£ million) National debt held privately † (£ million) National debt per capita(£) National debt held privately per capita†(£)
1945 Not available Not available Not available Not available
1946 141,349 90,932 2,906 1,866
1947 143,534 88,603 2,934 1,809
1948 133,229 84,224 2,694 1,706
1949 127,853 Not available 2,565 Not available
1950 127,462 Not available 2,519 Not available
1951 117,427 73,535 2,337 1,463
1952 110,555 Not available 2,191 Not available
1953 109,414 Not available 2,167 Not available
1954 109,788 Not available 2,164 Not available
1955 107,467 Not available 2,099 Not available
1956 103,289 66,384 2,013 1,291
1957 99,930 64,421 1,939 1,251
1958 98,035 65,009 1,894 1,256
1959 98,006 65,020 1,883 1,249
1960 98,175 64,531 1,873 1,232
1961 97,469 63,380 1,846 1,201
1962 96,058 61,556 1,802 1,156
1963 97,006 58,068 1,810 1,082
1964 97,025 57,157 1,801 1,059
1965 93,454 52,632 1,722 970
1966 92,142 50,933 1,691 935
1967 90,840 51,171 1,656 934
1968 94,034 50,595 1,708 919
1969 88,019 45,053 1,590 816
1970 81,374 44,167 1,466 797
1971 75,579 42,533 1,358 764
1972 75,264 45,427 1,348 815
1973 72,083 41,351 1,288 739
1974 69,183 38,808 1,235 693
1975 65,431 36,216 1,169 647
1976 66,203 39,803 1,183 711
1977 66,854 41,995 1,195 751
1978 72,846 44,810 1,304 801
*Up to 1961, based on the consumers' expenditure deflator; in 1962 and later years, based on the general index of retail prices.
†See note*to Table 1.

TABLE 3
CHANGES IN THE NATIONAL DEBT AT CURRENT PRICES
(31st March each year)
Change in national debt(£ million) Change in national debt held privately*)
1945 to 1951 4,556 Not available
1951 to 1964 4,304 2,546 †
1964 to 1970 2,853 148
1970 to 1973 4,077 3,361
1974 to 1978 38,72 26,011
*See note*to Table 1.
†Includes overseas non-official holdings in 1964 as well as in 1951.

TABLE 4
CHANGES IN THE NATIONAL DEBT AT 1977 PRICES*
(31st March each year)
Change in national debt(£ million) Change in national debt held privately† (£ million)
1945 to 1951 Not available Not available
1951 to 1964 —20,402 —13,254‡
1964 to 1970 —15,651 —12,990
1970 to 1973 —9,291 —2,816
1974 to 1978 3,663 6,002
*See note*to Table 2.
†See note*to Table 1.
‡See note † to Table 3.