Public Sector Borrowing Requirement

HC Deb 21 February 1980 vol 979 c326W

2. Mr. Hal Miller

asked the Chancellor of the Exchequer what is the margin of error in the computation of the public sector borrowing requirement; and by how much out-turns has differed from forecasts in the last decade.

Mr. Biffen

Over the period 1969–70 to 1978–79, the average error on forecasts of the PSBR made at the time of the Budget was equivalent to about 1¾ per cent. of GDP. This error is after adjustment for the effects of major changes in fiscal policy, where these were excluded from the original Budget forecasts.

46. Mr. Budgen

asked the Chancellor of the Exchequer if he will publish medium-term targets for the public sector borrowing requirement and the money supply.

Mr. Biffen

I have nothing to add to the reply given to my hon. Friend by my right hon. and learned Friend the Chancellor on 6 December—[Vo. 975, c.602.]

53. Mr. Alan Clark

asked the Chancellor of the Exchequer what is his estimate for the public sector borrowing requirement in 1980–81.

Mr. Biffen

I ask my hon. Friend to await the Budget Statement.