HC Deb 22 November 1977 vol 939 cc703-5W
Mr. Knox

asked the Chancellor of the Exchequer if he will publish in theOfficial Report a table showing for each year since 1945 the total overseas debt of the United Kingdom, the total overseas debt of the United Kingdom per family and the total overseas debt of the United Kingdom per capita.

Mr. Denzil Davies

I assume the hon. Member is interested in the total overseas debt of Her Majesty's Government

Foreign currency borrowing* Total overseas debt†
Total‡ Per capita Total Per capita
£million £ £million £
End 1945 … … … … … … 478§ 9.7 .. ..
End 1946 … … … … … … 732§ 14.9 .. ..
End 1947 … … … … … … 1,506 30.4 .. ..
End 1948 … … … … … … 1,832 36.6 .. ..
End 1949 … … … … … … 2,474 49.2 .. ..
End 1950 … … … … … … 2,463 48.6 .. ..
End 1951 … … … … … … 2,416 47.8 .. ..
End 1952 … … … … … … 2,424 47.8 .. ..
End 1953 … … … … … … 2,353 46.3 .. ..
End 1954 … … … … … … 2,310 45.2 .. ..
End 1955 … … … … … … 2,154 42.1 .. ..
End 1956 … … … … … … 2,245 43.7 .. ..
End 1957 … … … … … … 2,293 44.4 .. ..
End 1958 … … … … … … 2,241 43.2 .. ..

tively, at the same dates in the years 1957, 1962, 1967 and 1972, respectively.

Mr. Denzil Davies

The table below gives, in new pence, the sums of money which, on the dates shown, had internal purchasing power equivalent to that of the specified currency units in October 1977. Figures for 1957 relate to the average for that year.

and United Kingdom public sector bodies. Overseas debt includes both foreign currency borrowing and sterling debt. Since estimates of official sterling debt are not available prior to 1962, the table below includes details of foreign currency borrowing for each year from 1945 and of total overseas debt only from 1962. Estimates of total debt per family, or per household, have not been provided as this would require allocation between the household and non-household population on some arbitrary basis.

Foreign currency borrowing* Total overseas debt†
Total‡ Per capita Total Per capita
£million £ £million £
End 1959 … … … … … … 2,153 41.3 .. ..
End 1960 … … … … … … 2,063 39.3 .. ..
End 1961 … … … … … … 2,185 41.3 .. ..
End 1962 … … … … … … 1,930 36.1 4,994 93.5
End 1963 … … … … … … 1,885 35.1 .. ..
End 1964 … … … … … … 2,106 39.0 5,375 99.5
End 1965 … … … … … … 2,513 46.2 .. ..
End 1966 … … … … … … 2,518 46.1 5,893 107.8
End 1967 … … … … … … 2,786 50.7 6,674 121.5
End 1968 … … … … … … 3,412 61.9 7,860 142.5
End 1969 … … … … … … 3,414 61.7 7,334 132.5
End 1970 … … … … … … 2,999 54.0 5,890 106.1
End 1971 … … … … … … 2,322 41.7 5,646 101.3
End 1972 … … … … … … 2,201 39.4 5,799 103.8
End 1973 … … … … … … 3,334 59.5 6,615 118.1
End 1974 … … … … … … 5,084 90.7 8,996 160.5
End 1975 … … … … … … 6,838 122.0 10,631 189.7
End 1976 … … … … … … 11,452 204.4 14,601 260.6
* Comprises long, medium and short-term borrowing by Her Majesty's Government, including borrowing under Eurodollar facilities, and borrowing by local authorities and public corporations.
† Includes, in addition to foreign currency borrowing, sterling borrowing from overseas monetary authorities, overseas holdings of British Government stocks, Treasury bills and local authority securities and mortgages and also deposits with local authorities. Figures are taken from "United Kingdom Balance of Payments, 1966–76", Table 11.2.
‡ Figures have been converted to sterling at the end-year middle market rates.
§ Long-term borrowing only.
.. Indicates "not available".