§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what is the purpose of Government borrowing since 31 October 1987 in excess of the borrowing requirement; and if he will publish in theOfficial Report a table showing for each issue the amount borrowed and the exact cost per annum.
§ Mr. Lilley[holding answer 22 January 1988]: The public sector's net borrowing is necessarily equal to its 83W borrowing requirement: it is an accounting identity. Figures for new issues and redemptions of gilt-edged stock
Date and Stock Nominal Amount (£ million) For Cash (£ million) Cost Per Annum (£ million) 10 November 1987 8 per cent. Treasury 1992 100 99 8.0 10 per cent. Treasury Loan 1994 150 158 15.0 83/4 per cent. Treasury 1997 200 199 17.5 21/2per cent. Index Linked Treasury 2001 100 109 12.5 21/2 Index Linked Treasury 2020 100 94 12.5 2 December 1987 21/2 per cent. Index Linked Treasury 2003 50 54 11.25 21/2 Index Linked Treasury 2009 50 51 11.25 21/2 per cent. Index Linked Treasury 2013 50 44 11.25 11 December 1987 8 per cent. Treasury Convertible Stock 1990 1,000 980 280.0 21 December 1987 10 per cent. Treasury 1993 100 103 100 101/2 per cent. Exchequer Stock 1997 150 1S9 15.75 91/2 per cent. Treasury Loan 2002 100 103 9.75 91/2 per cent. Conversion Stock 2004 100 100 9.5 2 per cent. Index Linked Treasury 2006 100 107 12.0 13 January 1988 83/4 per cent. Treasury 1997 "C" 1,000 925 87.5 18 January 8 per cent. Treasury 1992 300 286 24.0 91/2 per cent. Conversion Stock 2005 150 149 14.25 91/2 per cent. Conversion Stock 2004 150 147 14.25 1 Index Linked Stocks: There will be an additional cost at redemption due to capital uplift. 2 Convertible stock: Annual cost may vary slightly due to the exercising of conversion options.