§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what is the estimated borrowing requirement to the end of the current financial year; what is the forecast distribution in terms of interest-bearing assets by length to maturity; and what is the additional cost to the Exchequer of securing the additional debt each year to the last maturity date in (a) nominal terms and (b) real terms, assuming nil inflation.
§ Mr. AitkenThe public sector borrowing requirement for 1994–95 is forecast to be £34.3 billion. The outturn for the first seven months of the financial year was £19.2 billion, implying borrowing of £15.1 billion between November and March.
The distribution of debt in terms of interest-bearing assets by length to maturity will depend on market conditions. The cost of securing the additional debt will depend on the form of the debt and on market interest rates.