§ Mr. McQuarrie
asked the Chancellor of the Exchequer what was the total amount of the national debt on 3 May 1979; what was the total of the debt on 30 June 1982; and what repayments have been made in order to reduce the debt.
§ Mr. Bruce-Gardyne
Details of the national debt in May 1979 and June 1982 were not compiled. The most convenient dates to take are 31 March 1979 and 31 March 1982. Total national debt at 31 March 1979 was £86,885 million and the provisional total of national debt at 31 March 1982 was £117,959 million.
Details of the national debt outstanding and debt redeemed are given annually in the Consolidated Fund and National Loans Fund Accounts: Supplementary Statements. The total amounts of debt redeemed from 31 March 1979 to 31 March 1981—the latest date to which figures are available—was £313,240 million, comprising cash redemptions £312,001 million, through sinking funds £37 million, by conversion £1,062 million and by cancellation £140 million.