HC Deb 26 January 1989 vol 145 c685W
39. Sir John Stokes

To ask the Chancellor of the Exchequer what is his estimate of the additional revenue which will be available in 10 years as a result of the current level of national debt repayment.

Mr. Lilley

Were annual debt repayments for each of the next ten years to be at the current forecast level of £10 billion the stock of net debt will be virtually halved. However, the amount of debt interest saved will depend upon interest rates over the next ten years and the mix of debt repaid, and hence it could only be quantified with a large degree of uncertainty. There would clearly be a substantial saving on the current level of net interest payments of £11½ billion.