§ Mr. Powellasked the Chancellor of the Exchequer what is the reason for the difference between the definition of the borrowing requirement of the central Government in the outturn 1977–78 and forecast 1978–79 in Table 15 of the Financial Statement (HC 310).
§ Mr. Joel BarnettThere is no difference of principle in the definition of the central Government borrowing requirement for the two years 1977–78 and 1978–79. The difference in wording to which the right hon. Gentleman refers reflects the fact that no analysis is given for 1978–79 of the financing of the CGBR, of which the change in the exchange reserves is part.
§ Mr. Mayhewasked the Chancellor of the Exchequer what percentage of the 353W estimated £8½ billion borrowing requirement for 1978–79 is represented by interest on Government borrowings.
§ Mr. Joel BarnettThe public sector borrowing requirement is the balance all receipts and all expenditure of the public sector as a whole. It would be wrong to attribute to it any particular item of expenditure—or receipts. The Budget forecast of public sector interest payments to the private sector and overseas in 1978–79 is £8.4 billion.