HC Deb 06 December 1973 vol 865 cc454-5W
Mr. Meacher

asked the Chancellor of the Exchequer, for each month since June 1970, what has been the total level of loans outstanding to overseas creditors ; what percentage of this total for each month represented loans outstanding, respectively, to central Government, local authorities and nationalised industries ; and what proportion of these loans were, respectively, short-term, medium-term or long-term.

Mr. Nott

Foreign currency borrowing by the nationalised industries and local authorities is not official borrowing by the Government. It is presented separately in the statistics set out below. Table I sets out the outstanding amounts of official short- medium- and long-term debt at end-quarters from June 1970. Foreign currency borrowing for domestic

TABLE I
OFFICIAL SHORT- MEDIUM- AND LONG-TERM DEBT OUTSTANDING AT END OF PERIOD
£ million†
Period Short Medium* Long
End-June 1970 … … … … … 469 992 2,230‡
September 1970 … … … … … 626 985 2,221‡
December 1970 … … … … … 399 970 2,160‡
End-March 1971 … … … … … — 683 2,164‡
June 1971 … … … … … — 675 2,131‡
September 1971 … … … … … — 415 2,126‡
December 1971 … … … … … — 415 1,906
End-March 1972 … … … … … — 405 1,889
June 1972 … … … … … 1,001 — 1,867
September 1972 … … … … … — — 1,862
December 1972 … … … … … — — 1,802
End-March 1973 … … … … … — — 1,622
June 1973 … … … … … — — 1,602
* Official medium-term has been classified as IMF debt only.
† Figures are calculated to end-September 1971 at £1 = $2.40; from end-December 1971 to end-December 1972 at £1 = $2.60571 and from end-March 1973 at £1 = $2.89524.
‡ Including Deutsche Bundesbank loan.
TABLE II
FOREIGN CURRENCY BORROWING BY THE NATIONALISED INDUSTRIES AND LOCAL AUTHORITIES FOR DOMESTIC USE—AMOUNTS OUTSTANDING AT END OF PERIOD
Nationalised Industries Local Authorities
Period Dollar million Swiss franc million* Deutsche- mark million EUA million Dollar million Swiss franc million Deutsche- mark million
End-June 1970 … — 70 560 8 — — 50
September 1970 … — 70 560 8 — — 50
December 1970 … — 70 560 8 — — 50
End-March 1971 … — 395 737 8 — — 50
June 1971 … — 595 737 8 — 104 50
September 1971 … — 595 737 8 — 104 50
December 1971 … — 595 737 8 — 104 50
End-March 1972 … — 595 737 8 — 104 50
June 1972 … — 595 737 8 — 104 50
September 1972 … — 595 737 8 — 104 50
December 1972 … — 595 737 8 — 104 50
End-March 1973 … 40 920 837 8 75 104 50
June 1973 … 515 920 837 8 335 104 50
September 1973 … 1,365 920 777 8 405 104 50
* Part of one loan used for external purposes.

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