HC Deb 10 November 1975 vol 899 c484W
Mr. Hordern

asked the Chancellor of the Exchequer if he will list the outstanding Government borrowings from overseas lenders, as well as those by other public sector borrowers.

Mr. Dell

At the end of October 1975 the equivalent of $7 billion had been borrowed by the public sector for domestic purposes and the Government's outstanding foreign currency borrowing overseas comprised the $2.5 billion loan with the clearing banks and the equivalent of £4.2 billion long-term debts arising, in the main, out of the Second World War.

In addition identified overseas holdings of United Kingdom Government Stocks and Treasury bills and overseas deposits with United Kingdom local authorities amounted to approximately £3.2 billion at end June 1975. A detailed breakdown of this figure is given in the September edition of the Bank of England Quarterly Bulletin.

The dollar equivalents of other currencies included in the above figures have been computed on the basis of current market rates.