§ Paddy AshdownTo ask the Chancellor of the Exchequer what the total of public sector net borrowing as a percentage of gross domestic product, added to taxes and social security contributions as a percentage of gross domestic product was for each of the years 1989–90 to 2002–03; and if he will make a statement. [144591]
§ Mr. Andrew SmithFigures for public sector net borrowing and taxes and social security contributions as a per cent. of GDP from 1989–90 to 1999–2000 were published in Table B26 of the pre-Budget report. Projects to 2005–06 were published in Tables B6 and B10 respectively.
The Government have cut borrowing by £44 billion since 1996–97. As a result of lower borrowing, the Government are able to spend £4 billion a year more on key public services rather than on servicing the national debt.