§ Mr. Knoxasked the Chancellor of the Exchequer if he will publish in the Official Report a table showing for each year since 1963 in terms of constant 1970 prices and constant 1976 prices (a) the total public sector borrowing requirement, (b) the total public sector borrowing requirement per household, and (c) the total public sector borrowing requirement per capita.
§ Mr. Denzil DaviesThere is no specific price index for converting the public sector borrowing requirement to a constant price basis. In order to give a rough indication of changes in the borrowing 159W requirement in real terms, the current price values have been deflated by the implied deflator for gross domestic product at market prices. The information is shown in the following table. Any differences
(a) Public sector borrowing requirement expressed in terms of 1970 prices (b) Public sector borrowing requirement expressed in terms of 1970 prices per household (c) Public sector borrowing requirement expressed in terms of 1970 prices per capita (£m.) (£) (£) 1963 … … 1,163 65 22 1964 … … 1,322 73 24 1965 … … 1,533 84 28 1966 … … 1,172 63 21 1967 … … 2,202 118 40 1968 … … 1,457 78 26 1969 … … -482 -26 -9 1970 … … -13 -1 — 1971 … … 1,248 65 22 1972 … … 1,730 89 31 1973 … … 3,324 170 59 1974 … … 4,410 223 79 1975 … … 5,686 286 101 1976 … … 4,418 221 79
(a) Public sector borrowing requirement expressed in terms of 1976 prices (b) Public sector borrowing requirement expressed in terms of 1976 prices per household (c) Public sector borrowing requirement expressed in terms of 1976 prices per capita (£m.) (£) (£) 1963 … … 2,476 138 46 1964 … … 2,818 156 52 1965 … … 3,266 178 60 1966 … … 2,495 135 46 1967 … … 4,693 251 85 1968 … … 3,104 165 56 1969 … … -1,025 -54 -19 1970 … … -28 -1 -1 1971 … … 2,659 138 48 1972 … … 3,685 190 66 1973 … … 7,086 362 126 1974 … … 9,400 475 168 1975 … … 12,106 608 216 1976 … … 9,410 471 168 Sources:
Financial Statistics.
Annual Abstract of Statistics.