§ Mr. ForthTo ask the Chancellor of the Exchequer if he will give the United Kingdom national debt as a percentage of gross national product, and any similar information available to him for the United States of America, France, Italy, Japan and Canada.
§ Mr. LilleyUnited Kingdom national debt is defined as liabilities of the national loans fund which has no counterpart in many other countries. The normal basis for302W international comparisons is general Government net debt which, in the United Kingdom, comprises general Government debt held outside the public sector less general Government bank deposits and claims on the non-bank private sector, principally housing loans and outstanding taxes.
Comparable international OECD figures for general Government net national debt as a percentage of GDP/ GNP are as follows:
Per cent. 1975 1979 1982 1985 1986 United Kingdom 57 49 46 47 47 United States of America 24 19 21 27 29 France 11 10 11 17 18 Italy 60 64 73 96 99 Japan -2 15 23 26 26 Canada 4 11 17 30 34 Source: OECD Economic outlook June 1987.