Public Sector Finance (Hansard, 26 April 1993)

§ Ms Harman
To ask the Chancellor of the Exchequer whether he will publish a table setting out the value of the public sector borrowing requirement in 1991–92 and 1992–93 together with the forecasts of each of these made in the budgets of 1988, 1989, 1990, 1991, 1992 and 1993.

§ Mr. Portillo
The figures are set out in the table. The "Financial Statement and Budget Report" contains forecasts of the PSBR for only the current year and for the year ahead. PSBR estimates for 1991–92 and 1992–93 given in successive FSBRs prior to 1991 were projections, rather than forecasts, based on illustrative assumptions about the medium-term path of the economy.
294W

£ billion

1991–92 1992–93

Forecast made in:

1991 FSBR 7.9 n.a.

1992 FSBR 13.8 28.1

1993 FSBR n.a. 35.1

Outturn 13.8 36.5

§ Ms Harman
To ask the Chancellor of the Exchequer whether he will publish a table setting out the value of the public sector borrowing requirement as a proportion of gross domestic product at market prices for each financial year from 1963–64 onwards together with the value of public sector capital expenditure, including capital grants to the private sector, as a proportion of GDP at market prices over the same period.

§ Mr. Portillo
The figures requested are set out in the table. The size of the public sector has been reduced significantly over the past decade as a result of the privatisation programme.

Public sector capital expenditure^{1 2} PSBR²

1963–64 7.9 3.4

1964–65 8.4 2.7

1965–66 8.4 2.6

1966–67 9.4 3.0

1967–68 10.7 5.0

1968–69 10.0 0.8

1969–70 9.7 -1.3

1970–71 10.0 1.5

1971–72 9.2 1.7

1972–73 8.7 3.7

1973–74 9.6 5.9

1974–75 10.4 9.1

1975–76 10.3 9.4

1976–77 9.2 6.5

1977–78 7.5 3.6

1978–79 7.0 5.4

1979–80 6.8 4.8

1980–81 6.3 5.4

1981–82 5.4 3.4

1982–83 5.7 3.2

1983–84 5.8 3.2

1984–85 5.3 3.1

1985–86 4.5 1–6

1986–87 3.9 0.9

1987–88 3.4 -0.8

1988–89 3.1 -3.1

1989–90 3.9 -1.5

1990–91 3–7 -0.1

1991–92 3.7 2.4

¹ On a national accounts basis. Comprises gross domestic fixed capital formation—net of receipts from asset sales—increase in stocks, and capital grants to the private sector.

² As percentage of GDP at market prices adjusted for the abolition of domestic rates.

£ billion
	1991–92	1992–93
Forecast made in:
1991 FSBR	7.9	n.a.
1992 FSBR	13.8	28.1
1993 FSBR	n.a.	35.1
Outturn	13.8	36.5

	Public sector capital expenditure^{1 2}	PSBR²
1963–64	7.9	3.4
1964–65	8.4	2.7
1965–66	8.4	2.6
1966–67	9.4	3.0
1967–68	10.7	5.0
1968–69	10.0	0.8
1969–70	9.7	-1.3
1970–71	10.0	1.5
1971–72	9.2	1.7
1972–73	8.7	3.7
1973–74	9.6	5.9
1974–75	10.4	9.1
1975–76	10.3	9.4
1976–77	9.2	6.5
1977–78	7.5	3.6
1978–79	7.0	5.4
1979–80	6.8	4.8
1980–81	6.3	5.4
1981–82	5.4	3.4
1982–83	5.7	3.2
1983–84	5.8	3.2
1984–85	5.3	3.1
1985–86	4.5	1–6
1986–87	3.9	0.9
1987–88	3.4	-0.8
1988–89	3.1	-3.1
1989–90	3.9	-1.5
1990–91	3–7	-0.1
1991–92	3.7	2.4
¹ On a national accounts basis. Comprises gross domestic fixed capital formation—net of receipts from asset sales—increase in stocks, and capital grants to the private sector.
² As percentage of GDP at market prices adjusted for the abolition of domestic rates.