§ Mr. John Mooreasked the Chancellor of the Exchequer what is the percentage share of new bond capital taken by public authorities today as compared with 1970 and 1963.
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§ Mr. Dell,pursuant to his reply [Official Report, 9th February 1976; Vol. 905, c. 49], gave the following information:
There are various definitional and statistical difficulties in providing this information. Bonds have been taken to include British Government stocks, but not Treasury bills, and the total of preference and loan capital in other capital issues. Only sales of Government stock to domestic holders, and domestic issues of other capital, have been included. In both cases information is most readily available for sales and issues net of redemptions, and on this basis it can be misleading to convert the absolute figures into percentage shares. Full figures have not yet been published for the whole of 1975, and the table below, therefore, compares the first three quarters of 1975 with the two earlier years:
£ million Total Net Domestic Bond Issues Net Domestic Bond Issues by Public Authorities 1963 +204.3 -44.5 1970 -44.1 -224.8 1975 (January to September) +3,346.2 +3,250.2. Source: Bank of England Quarterly Bulletin and Bank of England Statistical Abstract, Tables 3 and 15.