§ Mr. Skeetasked the Chancellor of the Exchequer if he will list the total Government borrowing from overseas sources since October 1974 and the annual cost of servicing such loans.
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§ Mr. DellI assume that the hon. Member has in mind Her Majesty's Government's foreign currency load of $2-5 billion, which was wholly drawn between October 1974 and February 1975. It is not possible to give a precise figure for the annual servicing cost since this loan is on a floating rate basis, with different rates applicable to different tranches. In broad terms, however, the cost of servicing the loan, at present interest rates, will amount to some $200 million per annum.