§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what is the estimate of the effect on the PSBR in(a) 1997–98, (b) 1998–99, and (c) 1999–2000 of the new estimates of GDP growth for such years contained in the "Pre-Budget Report, November 1997". [19957]
§ Mr. Darling[holding answer 10 December 1997]: The new forecast of the PSBR, incorporating the new projections of GDP growth, are set out in Table B6 of the "Pre-Budget Report, November 1997".
§ Mr. Malcom BruceTo ask the Chancellor of the Exchequer what is his estimate of the reduction in the public sector borrowing requirement in(a) 1998–99 and (b) 1999–2000 which would result from an upward revision to the projected growth of gross domestic product for each of these years from the figure of 1.75 per cent. contained in Table B2, page 98, of the "Pre-Budget Report, November 1997", to a rate of 2.25 per cent. per annum. [19756]
§ Mr. Darling[holding answer 10 December 1997]: Ready reckoner estimates of the effect on the PSBR of changes to GDP growth are published in Treasury Occasional Paper, No. 4, "Public Finances and The Cycle".
§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer if he will publish in all future financial statement and budget reports and pre-budget reports, cash estimates of the cyclically-adjusted public sector borrowing requirement on a current balance basis; and if he will make a statement. [19933]
§ Mr. Darling[holding answer 10 December 1997]: The July 1997 Financial Statement and Budget Report, and the Pre-Budget Report, both included charts of the cyclically-adjusted current balance as a percentage of GDP. The Pre-Budget Report discussion paper, "A Code for Fiscal Stability", suggested that the Code should require the Government to publish a wider range of reports and information on the economic and fiscal outlook, including estimates of the cyclically-adjusted fiscal position. The Government are inviting comments on the proposals in that paper.