§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what is his latest estimate of the size of the net public sector debt as at the end of March 1997; and what were the equivalent figures at(a) end March 1991 and (b) end March 1979. [12791]
§ Mr. Waldegrave[holding answer 27 January 1997]: The Budget forecast was that net public sector debt would stand at £350 billion at end-March 1997. Equivalent outturn figures for end-March 1991 and end-March 1979 were £153 billion and £91 billion respectively. However, such comparisons are not particularly meaningful since they take no account of the impact of inflation or the size of the economy. As a per cent. of money gross domestic product, net pubic sector debt in end March 1997 is expected to be 45½ per cent. compared with 49 per cent. in 1979.