§ Mr. Tebbitasked the Chancellor of the Exchequer by how much, in current terms, the total of external and internal debt has increased since February 1974.
§ Mr. Denzil DaviesThe latest published figures for total public sector debt outstanding are for 31st March 1973.
The increase in the National Debt outstanding from the National Loans Fund between 28th February 1974 and 30th November 1975 is given in the table below:
To nearest £ million Internal 11,699 External† 793 Total 12,492 †Valued at £1=$2.89524, the sterling/dollar equivalent of parity following $ devaluation on 12th February 1973.
§ Mr. Tebbitasked the Chancellor of the Exchequer what is the annual cost of servicing all the public debts, external and internal which the Government have incurred since taking office in March 1974.
§ Mr. Denzil DaviesIt is not possible to allocate interest payments between those arising from the public sector debt incurred since a given date, and those arising from existing debt and the refinancing of maturing debt. The overall cost of public sector debt interest was £3,254 million in 1973–74. The cost of financing public sector debt in 1975–76 was estimated at £5,074 million in the 1975–76 Financial Statement and Budget Report. The increase in the overall cost of financing public sector debt between 1973–74 and 1975–76 is thus estimated at £1,820 million.