§ Mr. Robert Taylorasked the Chancellor of the Exchequer what is the loss of revenue to the Exchequer by the provision of stock relief in each year since its commencement.
§ Mr. Peter ReesI refer my hon. Friend to my reply to the hon. Member for Oldham, West (Mr. Meacher) on 24 May.—[Vol. 967, c. 197–98].
(A) (A) Cost of Servicing National Debt (£ million) As percentage of Government expenditure Financial year At current prices At March 1979 prices* 1960–61 … … … … 661 2,801 10.3 1970–71 … … … … 1,457 4,116 9.6 1971–72 … … … … 1,643 4,245 9.8 1972–73 … … … … 1,879 4,528 9.9 1973–74 … … … … 2,341 5,111 10.8 1974–75 … … … … 2,858 5,293 9.8 1975–76 … … … … 3,560 5,290 9.2 1976–77 … … … … 4,534 5,850 10.6 1977–78 … … … … 5,192 5,873 11.1 1978–79 … … … … 6,458 6,748 11.3 1979–80 … … … … 8,150† 7,323‡ 12.8† * Based on the general index of retail prices. † Provisional. Figures from the Financial Statement and Budget Report 1979–80. ‡ Based on prices in September and October 1979.