HC Deb 01 July 1980 vol 987 cc521-3W
Dr. Roger Thomas

asked the Chancellor of the Exchequer if he will list, for the United Kingdom, Holland, Japan, the United States of America, West Germany and France, for each year since 1960 (a) the size of the national debt, (b) the interest charges on the national debt, (c) the national income, (d) the size of the national debt as a percentage of the national income and (e) the interest charges as a percentage of the national income.

NATIONAL DEBT, NATIONAL DEBT INTEREST AND NATIONAL INCOME
National debt*† Interest on national debt *‡ National income§ (a) as a percentage of (c) (b) as a percentage of (c)
(a) (b) (c) (d) (e)
United Kingdom (£, million)
1960 … … … 27,814 838 23,660 118 4
1965 … … … 30,441 1,033 33,044 92 3
1970 … … … 33,079 1,412 47,068 70 3
1975 … … … 46,404 2,790 93,281 50 3
1977 … … … 67,166 4,449 126,428 53 4
1978 … … … 79,180 5,101 144,097 55 4
Netherlands (Guilders, million)
1960 … … … 19,063 592 38,396 50 2
1965 … … … 21,995 821 62,547 35 1
1970 … … … 32,970 1,699 105,377 31 2
1975 … … … 46,777 2,876 189,270 25 2
1977 … … … 61,712 4,082 238,900 26 2
1978 … … … 71,084 4,780 256,580 28 2
Japan(Yen, billion)
1960 … … … 542 30 14,128 4 —
1965 … … … 494 22 27,801 2 —
1970 … … … 3,135 179 63,483 5 —
1975 … … … 10,515 626 127,700 8 —
1977 … … … 22,956 1,430 158,280 15 1
1978 … … … 32,814 2,168 172,980 19 1

Mr. Lawson

The information is set out in the following table. Apart from the latest years, it is provided at five-yearly intervals, to make the cost acceptable. There is no internationally agreed definition of national debt and the national definitions vary widely. They are affected by the different administrative arrangements in each country, in particular by differences in methods of financing local authorities and public trading enterprises and the extent to which Governments' holdings of their own debts are included. Comparisons between countries therefore need to be treated with caution.

NATIONAL DEBT, NATIONAL DEBT INTEREST AND NATIONAL INCOME
National debt*† Interest on national debt *‡ National income§ (a)as a percentage of(c) (b)as a percentage of(c)
(a) (b) (c) (d) (e)
United States of America (dollars, million)
1960 … … … 286,400 7,233 452,143 63 2
1965 … … … 290,900 8,299 623,180 47 1
1970 … … … 382,600 18,312 877,860 44 2
1975 … … … 544,131 30,911 1,344,079 40 2
1977 … … … 709,138 38,009 1,677,346 42 2
1978 … … … 780,425 43,966 1,877,983 42 2
West Germany (D. marks million)
1960 … … … 45,148 1,440 279,370 16 1
1965 … … … 57,819 2,230 414,890 14 1
1970 … … … 85,540 4,410 610,650 14 1
1975 … … … 180,272 9,420 917,870 20 1
1977 … … … 243,932 15,390 1,062,950 23 1
1978 … … … … … 1,142,750 … …
France (Francs, million)
1960 … … … 84,786 3,242 269,023 32 1
1965 … … … 84,947 3,706 440,065 19 1
1970 … … … 98,816 5,432 712,402 14 1
1975 … … … 3,278 1,118 1,297,563 3 1
1977 … … … 2,482 1,413 1,671,629 1 1
1978 … … … 3,023 1,685 1,901,594 2 1
— = less than½%
… = not available
* 'Public debt/ 'interest on public debt' as given in successive issues of the United Nations Statistical Yearbook except (a) for the United Kingdom, for which the figures are taken from the accounts of the Consolidated Fund and, from 1968, the national loans fund, and (b) for France for 1975 onwards, for which the figures are taken from the IMF Government Financial Statistics Yearbook.
†At 31 December, except for United Kingdom at 31 March.
‡ In year to 31 December, except for United Kingdom (year to 31 March.)
§'National income' (line 32) as given in National Accounts of OECD Countries 1950–1978 (Volume 1).