§ Mr. Nicholas Edwardsasked the Chancellor of the Exchequer what is the current annual cost to the overseas trade balance of interest payments on overseas borrowing by central and local government and by the nationalised industries.
§ Mr. DellIt is not possible to estimate precisely the amounts payable in interest since a large part of the borrowing is on floating rate terms. At present rates, interest payments on foreign currency loans raised by United Kingdom public sector bodies, together with drawings on the $2,500 million Her Majesty's Government loan, between 1st January 1973 and 31st October 1974 would amount to some $575 million.