HL Deb 13 April 1981 vol 419 cc856-7WA
The Earl of Selkirk

asked Her Majesty's Government:

Whether they will state the public sector borrowing requirements for each year from 1961 to date; and whether they will give an estimate of the percentage of these requirements which fell to capital expenditure and the percentage to current expenditure.

The Minister of State, Treasury (Lord Cockfield)

The public sector borrowing requirement for calendar years from 1961 to date is set out below:—

£m
1961 704
1962 546
1963 844
1964 990
1965 1,208
1966 964
1967 1,860
1968 1,295
1969 -445
1970 4
1971 1,382
1972 2,054
1973 4,209
1974 6,437
1975 10,480
1976 9,128
1977 5,995
1978 8,331
1979 12,594
1980 12,371

Sources: Figures for 1961 and 1962 are from the Bank of England Statistical Abstract, 1970 and are subject to a greater degree of estimation than those for 1963 onwards, which are from Economic Trends Annual Supplement, 1981 Edition, updated by Financial Statistics.

It is not possible to hypothecate borrowing as between current and capital expenditure. Nevertheless, the position is that for all years since 1961 there has been a surplus on current account.