HC Deb 16 February 1916 vol 80 cc63-4W
Mr. SHIRLEY BENN

asked the Chancellor of the Exchequer what was the national indebtedness of the United Kingdom in 1869–70, in 1871–2, in 1913–14, the estimated gross total indebtedness in 1915–16, and the estimated minimum or maximum sum that will be required to meet, respectively, the interest on War Loans and the payment after the War of pensions to British officers and men of both Services and their families and dependants?

Mr. McKENNA

The gross total of the National Debt of the United Kingdom was (in round figures):

£
On 31st March, 1870 … … 793,000,000
On 31st March, 1872 … … 784,000,000
On 31st March, 1914 … … 708,000,000
As regards the figure for 31st March, 1915, I can add nothing at present to my statement in the House of Commons on the 21st September, 1915, that the total dead-weight debt of the United Kingdom at the end of the financial year 1915–16, according to the best estimate then available, would be about £2,200,000,000.

I cannot give any figures in answer to the last part of the question.

Mr. BENN

asked what was the indebtedness of the German Empire at its inauguration and of Prussia in 1869–70, 1871, and 1872, the indebtedness and revenue of the German Empire in 1810; whether he can state, approximately, the gross war expenditure and the indebtedness of Germany at the present time; and what was the indebtedness of France in 1869–70, 1872, and in 1914, and what is her estimated yearly war expenditure at the present time?

Mr. McKENNA

The gross war expenditure of the German Empire up to the end of 1915 would appear, from figures given by Dr. Helfferich, to have been somewhat more than £1,500,000,000.

The nominal amount of funded debt incurred by the German Empire during the same period was, according to figures officially published in Germany, £1,288,000,000. No statement has been made as to the amount of floating debt raised during the same period, but it is probable that, of floating debt incurred since the outbreak of war, at least £250,000,000 was outstanding at the end of 1915.

The credits voted in France for the period 1st August, 1914, to 31st December, 1915, were about £1,240,000,000. The credits voted for the first quarter of 1916 are £300,920,000, so that if expenditure continued at the same rate during the whole year the expenditure for 1916 would amount to £1,203,680,000.

As to the other parts of the hon. Member's question, I have no information which is not generally available.