Lord BARNABYasked Her Majesty's Government:
What was the total cost involved in "servicing" the accumulated outstanding National Indebtedness, (a) Domestic, (b) Overseas, for the financial years 1971–72, 1972–73 and 1973–74 and whether they will state what these totals represent in the £ as income tax.
£ million 1 2 3 4 5 6 Financial years Total debt Interest paid by the public sector Interest paid to domestic holders of public sector debt Interest paid to overseas holders of public sector debt Service of the National Debt Interest paid to domestic holders Interest paid to overseas holders 1971–72 2,302 (14p) 2,002 300 1,635 (10p) 1,382 253 1972–73 2,522 (16p) 2,190 332 1,871 (12p) 1,584 287 1973–74 3,180 (13p) 2,746 434 2,332 (10p) 2,012 320 Sources:
Column 1: Financial Statistics, April 1975, Table 11.
Column 2: Column 1 less column 3.
Column 3: Central Statistical Office. The figures are compatible with those given in Economic Trends, March 1975, Table D, page 70.
Column 4: Consolidated Fund and National Loans Fund Accounts for each year.
Column 5: Column 4 less column 6.
Column 6: Based[...]on estimated overseas holdings of central government debt.
Both tables include prizes on Premium Savings Bonds. (In the Consolidated Fund and National Loans Fund Accounts these are usually included under "Management and expenses.") Expenses of administration etc. are excluded from these tables.