§ 78. Mr. Chapman
To ask the Chancellor of the Exchequer if he will make a statement on the changing level of the national debt, and the interest payable on it as a proportion of total public expenditure.
§ Mr. Major
The stock of public sector debt has declined as a share of GDP in recent years. This has reduced the burden of debt interest payments, enabling more expenditure on priority programmes while still reducing public spending as a proportion of GDP. Latest estimates of debt interest payments and public expenditure in 1987–88 will be published in the financial statement and Budget report on 15 March.