§ Mr. Skeetasked the Chancellor of the Exchequer how he has met the borrowing requirements for the past year, indicating the amount drawn from local government and the banking sector, borrowing from the public, overseas borrowing, and the increase in the volume of money furnished by the Bank of England.
§ Mr. DellFull information on the public sector borrowing requirement and its financing is only available up to the end of the 1974–75 financial year. The table below gives the public sector borrowing requirement for the year ending 31st March 1975, including the share of this attributable to local authorities, and indicates how this total was financed.
§ Mr. Robert SheldonAt the time of the Budget I received many representations that it would be impracticable to operate the 25 per cent. VAT on electronic components. Her Majesty's Customs and Excise discussed these difficulties with the Electronic Components Board and agreement was reached as to the categories to be charged at 25 per cent. and at 8 per cent. I am sending the hon. Member a copy of a joint Press notice which was issued on 22nd May 81W and which sets out these categories. I am glad to say that with relatively minor exceptions, which are currently being considered with the industry, this agreement has worked well.