§ Mr. Sainsburyasked the Chancellor of the Exchequer what is his latest estimate of the value of the public sector debt interest for the year 1976–77; and what percentage that interest represents of (a) estimated public expenditure, and (b) estimated GDP.
§ Mr. Joel BarnettOn the basis of the new presentation of debt interest—interest payments not balanced by interest receipts or by provision for interest from rent and trading income—and total public expenditure to be used in the next public 887W expenditure White Paper, Budget estimate of the value of public sector debt interest payments this year would be about £2 billion. This is 3½ per cent. of the Budget estimate of public expenditure, adjusted to the new White Paper presentation, and 1½ per cent. of GDP at market prices.