Government Borrowing

HC Deb 21 March 1985 vol 75 c597W

33. Mr. Patrick Thompson

asked the Chancellor of the Exchequer what is the amount by which Government borrowing has been reduced since April 1979.

Mr. Peter Rees

The amount of net annual public sector borrowing has fallen from 5.4 per cent. of GDP in 1978–79 to about 3¼ per cent. in each of the past four years, and is estimated to fall to 2 per cent. in 1985–86.

Percentage of average manual earnings* paid in income tax at:
	Reduced rate Single	Basic rate	Total	Reduced rate Married	Basic rate	Total
1978–79	4.2	20.2	24.4	4.2	16.1	20.3
1979–80	3.5	19.1	22.6	3.5	15.4	18.9
1983–84	—	23.1	23.1	—	19.2	19.2
1984–85	—	22.8	22.8	—	18.6	18.6
* Financial year averages for male, full-time manual workers aged over 21.