§ Mr. Peter Walkerasked the Chancellor of the Exchequer (1) how much of the increase in the Government borrowing requirement, indicated in the reply to the Question from the right hon. Member for Worcester on 6th November, was accounted for by the increase in the payment of unemployment benefits;
(2) how much of the increase in the Government borrowing requirement, indicated in the reply given to the Question from the right hon. Member for Worcester on 6th November, resulted from a loss of revenue resulting from an increase in the Budget estimates for those expected to be unemployed.
§ Mr. Joel BarnettIncreased social security benefits and reduced contributions and income tax receipts resulting from the unexpectedly sharp increase in unemployment will add some hundreds of millions of pounds to the Government borrowing requirement this year. It is too early to attempt a precise estimate.
§ Mr. Cantasked the Chancellor of the Exchequer whether, in order to assist the financing of the public sector borrowing requirement, he will issue variable coupon gilt-edged stock.
§ Mr. Joel BarnettMy right hon. Friend the Chancellor of the Exchequer keeps under review the range of instruments available for the financing of the public sector borrowing requirement, and will take account of this and other suggestions.